High street slows down
Retail sales growth in Britain slowed down in April, according to the latest research.The British Retail Consortium (BRC) says that high street sales increased 2.4 per cent on a like-for-like basis last month.But that is considerably less than the comparative 6.8 per cent growth experienced in April 2006.In addition, the BRC revealed that the three-month growth trend in April slipped to 3.3 per cent from the 3.5 per cent seen in March.Nevertheless, the trade association insists the figures are a "good result" for the nation's high streets, with Easter's warm weather boosting sales of DIY, gardening and outdoor leisure goods."Predictably, some categories did better than others, although there was a general falling-off in sales growth towards the end of the month," said BRC director Kevin Hawkins."Now that Easter distortions are out of the way, we should get a clearer reading of the real level of sales growth as May progresses."Last month the Office for National Statistics said that underlying growth in retail sales was "steady" thanks to strong annual growth rates.The Bank of England is widely expected to raise interest rates a quarter of a percentage point to 5.5 per cent tomorrow.
Share this..
Related stories
Shetland wind farm project criticised
In what is becoming an embarrassing development for the green policies of the UK government and UK businesses, a wind farm development in the Shetlands has been heavily criticised by the advertising standards authority after making various comments in an advertising campaign. Among some of the disputed claims from Viking Energy include the fact that 50% of the profits would stay with the Shetland...
Read MoreCelebrities hit by Dubai property crash
While many people believe that the UK property market crash has been one of the worst on record, it pales into insignificance when compared to the ups and downs of the Dubai property market. It has been revealed that celebrities such as David Beckham and Brad Pitt have lost millions on their investments in the luxury Dubai development of Palm Jumeirah as the situation worsened today. In a situa...
Read MoreShort selling ban 'not working'
The ban on short selling from the Financial Services Authority (FSA) has not worked, the Centre for Economic and Business Research (CEBR) has claimed.According to the economists' group, instability on the financial markets has continued following the ban - which was aimed at shoring up sentiment among investors in financial firms.Their point was proved on the FTSE 100 today, as the index plunged b...
Read MoreDevastating floods could cost insurance industry over £100 million
The devastating floods in Cumbria and South Scotland could cost the UK insurance industry in excess of £100 million although this figure could rise significantly because the flooding has yet to subside. We have literally seen homes washed away in the flood water, vehicles left battered on the road site and indeed we have seen the unfortunate sight of casualties and fatalities during the floods....
Read MoreIs It Really So Grim Up North?
The recent report by a right wing think tank which suggested that those who live in the north of England should relocate down south has created an almighty row. The so called experts in the think tank believe that investment in many areas of the north is a waste of tax payers money and it should be directed at the more vibrant and prosperous areas of southern England. Do they really have a point...
Read More