Good weather lifts UK retail sales
Retail sales in May were up 0.8% on a like for like basis compared with May 2009 which is a very positive move especially in the current environment. The British Retail Consortium believes that the good weather of the last few weeks has brought consumers out in large numbers with particular interest in clothing and footwear as well as a return to growth for food sales across the UK. So what does this mean for the future?
While some of the bigger ticket items are still suffering there is hope that the forthcoming World Cup in South Africa will inject more enthusiasm into the consumer market and indeed lead to increased sales of televisions and football associated merchandise. Historically an event such as the World Cup has given consumers around the world the chance to forget their troubles for even a short time. The very fact that the England football team is one of the favourites for the tournament is a further positive for the retail sector!
There is no doubt that simple issues such as good weather can have a major impact on retail sales in the UK and consumer confidence. Hopefully we should see sunshine over the next few weeks and hopefully a recovery in UK retail sales.
Share this..
Related stories
Another G20 meeting and yet more promises!
As we approach the next G20 meeting in Pittsburgh, Gordon Brown is yet again on his soapbox suggesting that the G20 can mould the worldwide economy in the short to medium term and inject economic growth into the picture. Yet again we have more promises and more positive comments ahead of the G20 meeting, even though historically these types of meeting have very much failed to deliver.
Read More
Lord Mandelson attacks Kraft Foods
Only a week after suggesting that he had negotiated some kind of long-term commitment to Cadbury from its new owner Kraft Foods, Lord Mandelson is today on the attack after the announcement of 400 job losses at a Bristol-based Cadbury factory. The operation will close next year with production transferred to Poland where the cost base is more attractive for Kraft Foods. So why were we given a diff...
Read MoreEuro zone factory orders recover
New factory orders in the euro zone, which covers 16 different countries, increased by 0.9% between March and April 2010 with a year on year increase of around 22.1%. While the annual increase is pretty much in line with analyst forecasts the monthly increase was below expectations of 1.8%. So what does this mean for the euro zone? On the surface these figures look very impressive and would see...
Read MoreUS market may need new bailout!
It has been revealed by no less than Ben Bernanke, chairman of the US Federal Reserve, that the current US rescue plan on the table may not be enough to pull the economy out of a period of sustained negative growth. It is not the pace of the slowdown which is alarming analysts, more the strength and depth of the slowdown which is hitting all areas of the economy.
It has been sugges...
Good news on the horizon at John Lewis
UK retail bellwether the John Lewis Partnership yesterday confirmed that sales for the week were down 1.3% against the same period last year which is a marked improvement from the 9.8% slump the previous week. However, the management also confirmed this may be due to the timing of the school half term and winter purchases prior to Christmas.
Even though this improvement in weekly sa...