Thursday, February 21, 2008
The consumer won't lie down
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Nobody appears to have told Britain's consumers that they are supposed to be battening down the hatches. Amid tumbling consumer confidence and deepening debt worries, retail sales volume rose by 0.8% last month and was a hefty 5.6% up on a year earlier. Though supported by price cuts (sales value was up by 4.8% year-on-year) there appears to be some underlying strength. The volume of household goods sales in the latest three months rose by 9.8%, the fastest since February 2002. More details here.