Friday, October 29, 2010

Keep spinning

U.K. Retail Index Falls for First Time Since May, CBI Says

A U.K. retail-sales index fell for the first time in five months in October as the government’s planned spending cuts undermined consumer confidence.

Posted by devo @ 09:21 AM (1054 views)
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2 thoughts on “Keep spinning

  • ontheotherhand says:

    Could it be that there is more of a causation from earlier falling house prices than to govenment spending plans undermining consumer confidence? The story goes on to mention house prices and that sales at Carpetright have fallen 7.3%. If it is all about house prices, then the only way to keep them spending is to have big inflation along with nominal house price increases which fools them all.

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  • A lot of Carpet Right’s business tends to be in the cheaper bulk market of synthetic carpets, firms selling into the middle market and upwards continue to be busy.

    That tells me that it is lower income spending that is falling.

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