Thursday, December 15, 2011
Retail sales - soft but not dire
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

Retail sales fell by 0.4% in volume terms in November, and by 0.7% excluding petrol and diesel sales. They were up by 0.7% in the latest three months compared with the previous three, and by 0.7% also in November compared with a year earlier.

The value figures, up 4.6% year-on-year, again suggest Britain would be enjoying surprising strength in retail sales if not for high inflation. Maybe, however, people are having to spend on essentials, high prices or not. Given the mild weather in November, you might expect clothing retailers to be doing a lot worse than their 0.1% volume rise compared with a year earlier. Many more details here.