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23/07/2009
Hot Weather Boosts High Street Sales
Sales in the high street have risen by 1.2% in June as the hot weather has boosted demand for summer clothes, official figures have today revealed.
British retail sales jumped at three times the rate analysts expected last month with clothing selling particularly well, the Office for National Statistics (ONS) figures revealed.
The largest increase recorded came from clothing and footwear stores - up over 4.7% over the month.
Meanwhile, the largest decrease was in household goods stores at 6.2%, which now has 12 consecutive periods of negative growth.
Alan Clarke, UK economist at BNP Paribas, said: "It is worth keeping this release in context. Last month sales fell by almost one per cent.
"This month sales have risen by just over one per cent. Take the two together and sales growth on average over the last two months was 0.15 per cent. Not bad but not brilliant either and a large part of the strength was discounting and the weather."
Economic growth figures due on Friday are expected to show that the economy shrank by about 0.4% between April and June, compared with a 2.4% contraction in the first three months of the year.
The figures released today give weight to the view that the worst of the recession in the UK may be over.
However, analysts have argued that although the ONS’s figures are upbeat, it is still too soon to call a turnaround in the economy.
(JM/BMcC)
British retail sales jumped at three times the rate analysts expected last month with clothing selling particularly well, the Office for National Statistics (ONS) figures revealed.
The largest increase recorded came from clothing and footwear stores - up over 4.7% over the month.
Meanwhile, the largest decrease was in household goods stores at 6.2%, which now has 12 consecutive periods of negative growth.
Alan Clarke, UK economist at BNP Paribas, said: "It is worth keeping this release in context. Last month sales fell by almost one per cent.
"This month sales have risen by just over one per cent. Take the two together and sales growth on average over the last two months was 0.15 per cent. Not bad but not brilliant either and a large part of the strength was discounting and the weather."
Economic growth figures due on Friday are expected to show that the economy shrank by about 0.4% between April and June, compared with a 2.4% contraction in the first three months of the year.
The figures released today give weight to the view that the worst of the recession in the UK may be over.
However, analysts have argued that although the ONS’s figures are upbeat, it is still too soon to call a turnaround in the economy.
(JM/BMcC)
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Sluggish retail sales growth peaks in June
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Sluggish retail sales growth peaks in June
The latest figures from the Office for National Statistics have revealed that in June the underlying rate of growth in retail sales volumes was the highest so far this year. However, the annual growth has remained the lowest for more than six years, according to data released today by the ONS.
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Quarterly sales flat in 'uncertain' consumer outlook
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Scrappage Scheme Boosts Car Sales
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Scrappage Scheme Boosts Car Sales
The government's car scrappage scheme has pushed up UK car sales by 6% from a year ago, according to the latest industry figures. The Society of Motor Manufacturers and Traders' statistics show a total of 67,006 cars were sold in August, the second consecutive month of growth.
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
