Dixons group not expecting double dip recession
DSG, the group which owns Dixons and PC World, has taken a very different tack on the UK economy amid concerns of a potential double dip recession. John Browett, the chief executive, believes that while business levels are not what you would expect in a normal economic environment there is no sign as yet of a double dip recession.
Even though the group has benefited from the World Cup during the summer it also reported like for like sales up by 6% in the 12 week period to July 24. It is refreshing to see an increase in retail sales at this juncture when you bear in mind the negative headlines and negative comments which have dominated the financial press of late. Whether this like for like sales increase continues for the rest of 2010 is highly debatable but maybe, just maybe, we are a little far ahead of the game by suggesting that the UK economy is certainly headed for a double dip recession?
The statements from the likes of DSG will give consumers and businesses some hope in the UK and hopefully take away some of the doom and gloom which has descended in the short term.
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