Retail sales under pressure in March
UK retail sales in March grew by 0.4% which was well below the forecast 0.8% many analysts had put forward before the announcement. When you compare this subdued rate of growth to the 2.5% in February there is concern that the UK retail market is suffering. This comes just 24 hours ahead of the announcement of first quarter economic growth in the UK in 2010, something which Gordon Brown will be in possession of before this evenings TV debate.
The economic data from the UK economy is proving more and more difficult to forecast and more and more difficult to believe. We have seen massive fluctuations in retail sales, overall economic performance and the mortgage and property markets seem to have a mind of their own. Against this backdrop it is difficult for investors to look too far ahead to the future, and that is before considering the national debt situation, now above £1 trillion and set to go higher in the short to medium term.
On the surface there would appear to be signs of an economic recovery in the UK but underneath the surface, like a swan, the UK economy, UK consumers and UK businesses are kicking frantically to maintain the current position.
Share this..
Related stories
CBI survey reveals difficult retail market ahead
A survey by the CBI has highlighted the troubles of the UK retail sector after a brief period of respite and hope that the worst was over. The survey found that 63% of retailers have seen their sales fall in the first half of March with just 19% reporting an increase. The net balance of retailers expecting to see negative sales growth in the month of March is 44% against forecasts of around 33% on...
Read MoreGender pay gap 'needs tackling'
More must be done to close the pay gap between men and women, a gender equality campaign group has said.The Fawcett Society makes its call on the first day of the Wimbledon tennis championships, which will be the first in its history to pay the tournament winners equally.Dr Katherine Rake of the Fawcett Society said: "Women tennis players are finally enjoying equal pay at Wimbledon - it's time for...
Read MoreRecession Watch : Political Polls
One of the first signs indicating the end of a recession is a return of support for the government of the day, i.e. the Labour Party. However, the situation in the UK is slightly different because of ongoing scandals regarding MPs expenses and the recent e-mail sage emanating from number 10 Downing Street. However, many political analysts believe that as and when the UK recession ends we should se...
Read MoreHigh street sales drop 0.4%
Retail sales fell in the UK last month, Office for National Statistics (ONS) data revealed today.The official figures showed a 0.4 per cent decline on the month, better than analysts' predictions of a 0.9-one per cent fall.August's sales total was also revised, to a 1.1 per cent rise.This means that the annual sales growth now stands at 1.8 per cent, down from 3.3 per cent in August.Gavin George a...
Read MoreCharles Bean warns of central bank intervention
Charles Bean, the deputy governor of the Bank of England, has today suggested that central banks around the world may well need to step back into the fray and prop up ailing economies. Despite the fact that central banks around the world effectively bailed out the financial sector in the early days of the worldwide recession it seems as though another bout of funding may well be required in the sh...
Read More