21/02/2002

Retail slowdown after high spending Christmas

The latest figures from the Office of National Statistics has revealed that UK retailers saw high street retail sales slow after a high-spending December.

However, while sales were still stronger than last year, UK retail spending fell 0.3 per cent during January from the previous month.

For the year, retail sales rose by just over four per cent by volume when compared with January 2001, although the rise was slower than analysts' predictions of 5.6 per cent.

However, earlier this week, a separate report on Scotland's retail sector showed that despite the global economic downturn, sales north of the border remained robust, growing by a record 9.6 per cent from the same time last year.

(MB)

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