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Retail sales rise discounted by markets

News that UK retail sales grew by 1.2% between July and August has been largely discounted by the financial markets which have more important things to worry about in the short term. The figures have been certified by the Office for National Statistics who claim that unexpectedly high sales of clothing and footwear are behind the rise. But where is the money coming from?

Whenever we see sales rising at the moment the first question people tend to ask is where is the money coming from with spare cash never tighter than today. While there are massive discount sales on the high street it may be that people are stocking up for Christmas before their money runs out or it may be that consumers are squeezing the last drop out of their credit cards. Or is there a simpler answer?

There has been a growing resistance to the accuracy of the government figures of late, fuelled by the housing figures last month which are currently suspended pending a review which could go back 10 years. It seems as though some of the data collection processes are fatally flawed - could that be the case with these retail figures?

The main concern now is, if we can't trust the government to give us accurate data, where do we get it from?

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