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16/06/2005
ONS reports retail sales ‘restrained’
The latest three-monthly growth in retail sales volume was the highest since November 2004, the Office of National Statistics has reported.
However, the report warned that the underlying trend appeared “restrained” and annual growth in sales volume fell to the lowest level for six years.
The ONS reported an increase in three-monthly growth in sales of 0.2% for food stores, the lowest since March 2003, while non-food store showed a growth of 0.4%, ending a period of five consecutive decreases.
Clothing stores showed the highest growth in the non-food sector, with 2.5%, while household good and non-specialied stores showed decreases of 1% and 0.6% respectively.
Sales in the three months to May 2005 increased by 1.8% on the figures for the same period last year – the lowest annual growth since March 1999. Food stores showed the strongest three-monthly annual growth rate with 2.8%, followed by clothing stores at 3% and non-store retailing at 6.8%. Household goods stores showed the lowest annual growth for over ten years at 0.3%.
The total sales volume grew by 0.1% between April and May, which followed a 0.5% increase last month and a 0.3% decrease in March. The total volume of sales in May was 1.3% higher than last year’s figures, showing the lowest annual growth since January 1999.
Kevin Hawkins, Director General of the British Retail Consortium (BRC) said he was “not surprised by the ONS’ figures. He said: “They are almost completely in line with the BRC’s own retail sales figures released earlier in the month. The results confirm the adverse underlying trend in sales. Life on the high street is tough and consumer confidence is weak.”
(KMcA/SP)
However, the report warned that the underlying trend appeared “restrained” and annual growth in sales volume fell to the lowest level for six years.
The ONS reported an increase in three-monthly growth in sales of 0.2% for food stores, the lowest since March 2003, while non-food store showed a growth of 0.4%, ending a period of five consecutive decreases.
Clothing stores showed the highest growth in the non-food sector, with 2.5%, while household good and non-specialied stores showed decreases of 1% and 0.6% respectively.
Sales in the three months to May 2005 increased by 1.8% on the figures for the same period last year – the lowest annual growth since March 1999. Food stores showed the strongest three-monthly annual growth rate with 2.8%, followed by clothing stores at 3% and non-store retailing at 6.8%. Household goods stores showed the lowest annual growth for over ten years at 0.3%.
The total sales volume grew by 0.1% between April and May, which followed a 0.5% increase last month and a 0.3% decrease in March. The total volume of sales in May was 1.3% higher than last year’s figures, showing the lowest annual growth since January 1999.
Kevin Hawkins, Director General of the British Retail Consortium (BRC) said he was “not surprised by the ONS’ figures. He said: “They are almost completely in line with the BRC’s own retail sales figures released earlier in the month. The results confirm the adverse underlying trend in sales. Life on the high street is tough and consumer confidence is weak.”
(KMcA/SP)
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