Retail sales steam on

14-06-2007

Retail sales steam on
May's interest rate rise did little to dampen shoppers' appetite during May, the latest figures have shown.

According to the Office for National Statistics (ONS) retail sales in the UK rose 0.4 per cent over the last month.

The unexpected increase comes despite the Bank of England's monetary policy committee voting to raise interest rates a quarter of a percentage point to 5.5 per cent at the beginning of May.

Last month's rate hike follows identical increases in January 2007 and November and August of last year.

The ONS said today that stronger retail growth was reported in all sectors excluding clothing and footwear, with the latter seeing sales slump by 2.5 per cent.

"The largest increases occurred in household goods stores where sales increased by 2.9 per cent following a fall of 3.2 per cent in April and non-store retailing which rose by 2.6 per cent," a spokesperson said.

Total sales volumes in the three months to May were 4.4 per cent up on last year, today's statistics revealed, while the average weekly value of sales rose 4.6 per cent to £4.9 billion.


Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
Health / Beauty
Hotel / Catering / Restaurants
HR / Recruitment
Insurance / Pensions
International / Overseas
IT / Internet
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure