22/01/2010
Slight Rise In Retail Figures
British retailers enjoyed a 0.3% growth in sales over November and December last year.
The increase in sales figures was less than expected, with forecasters predicting a 1% jump.
A heightened rate in price rises was blamed for the small growth.
As a result, retail sales by value were stronger in December, rising by 0.9% compared with November. Sales by value were up 3.6% from December 2008.
Economists have expressed concern that the last two months of a Exchequer VAT slash failed to boost retail figures.
"Without this, sales would presumably have dropped. They are clearly a timely reminder that consumers shouldn't be relied on to drive a strong economic recovery." said Vicky Redwood, UK economist at Capital Economics.
Office for National Statistics figures showed food spend had the largest growth, up 4.9% year-on-year. Non-food spending was up 1.9%.
Online sales over the Christmas period were up 17% in December and 3.8% in November.
IMRG Capgemini, which released the figures, said: "2010 looks set to produce another year of strong results for e-retail, with demand expected to remain high as consumers habitually look online for best buys."
(PR/GK)
The increase in sales figures was less than expected, with forecasters predicting a 1% jump.
A heightened rate in price rises was blamed for the small growth.
As a result, retail sales by value were stronger in December, rising by 0.9% compared with November. Sales by value were up 3.6% from December 2008.
Economists have expressed concern that the last two months of a Exchequer VAT slash failed to boost retail figures.
"Without this, sales would presumably have dropped. They are clearly a timely reminder that consumers shouldn't be relied on to drive a strong economic recovery." said Vicky Redwood, UK economist at Capital Economics.
Office for National Statistics figures showed food spend had the largest growth, up 4.9% year-on-year. Non-food spending was up 1.9%.
Online sales over the Christmas period were up 17% in December and 3.8% in November.
IMRG Capgemini, which released the figures, said: "2010 looks set to produce another year of strong results for e-retail, with demand expected to remain high as consumers habitually look online for best buys."
(PR/GK)
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