Ministers split over timing of VAT increase July 26, 2009 A CABINET rift has opened up over whether VAT should rise to its previous rate at the end of the year. Retail and hospitality executives, who have campaigned for months against the change, were buoyed last week when Harriet Harman said the planned rise from 15 per cent to 17.5 per cent on January 1 [...]
London retail sales outpace UK thanks to sunshine and tourists July 19, 2009 RETAIL sales surged in central London last month thanks to the mini heatwave which sent shoppers racing for summer clothes, sandals and outdoor items, according to the latest survey from the British Retail Consortium (BRC) and KPMG. Research found like-for-like sales in June were 4.7 per cent higher than the same month in 2008 when [...]
Jobless rise hits retailers July 28, 2009 RETAIL sales fell faster than expected in July as consumers tightened their belts in the face of rising unemployment, the Confederation of British Industry (CBI) said yesterday. The CBI’s monthly distributive trades survey sales balance was -15 per cent this month, an improvement on -17 per cent in June, but worse than the -12 per [...]
Pressure to raise QE after mixed data August 4, 2009 ANNUAL growth in broad money supply slowed to its weakest since 1999 in the second quarter, according to data released yesterday by the Bank of England, just two days before its monetary policy decision. The figures showed that broad money supply growth excluding intermediate other financial corporations such as pension funds, fell to 3.1 per [...]
Pressure to raise QE after mixed data August 4, 2009 ANNUAL growth in broad money supply slowed to its weakest since 1999 in the second quarter, according to data released yesterday by the Bank of England, just two days before its monetary policy decision. The figures showed that broad money supply growth excluding intermediate other financial corporations such as pension funds, fell to 3.1 per [...]
Shop prices inched higher in June, food prices to fall July 7, 2009 INFLATION in shop prices rose only modestly in June and at a slower rate than in May, according to the British Retail Consortium-Nielsen’s shop price inflation index released today. Prices rose by 0.7 per cent in June compared with the same period last year and was held up by food inflation of 5.6 per cent [...]
Hot weather adds sizzle to retail sales July 23, 2009 UNUSUALLY hot weather and aggressive discounting by retailers fuelled a surge in retail sales last month, official data from the Office for National Statistics (ONS) showed yesterday. Figures from the ONS revealed that total retail sales rose by 1.2 per cent in June on the previous month, putting the annual rise on a seasonally-adjusted basis [...]
Hot weather adds sizzle to retail sales July 23, 2009 UNUSUALLY hot weather and aggressive discounting by retailers fuelled a surge in retail sales last month, official data from the Office for National Statistics (ONS) showed yesterday. Figures from the ONS revealed that total retail sales rose by 1.2 per cent in June on the previous month, putting the annual rise on a seasonally-adjusted basis [...]
Sunshine adds some extra sizzle to retail sales in June July 13, 2009 HOT, sunny weather helped retail sales rise 1.4 per cent on a like-for-like basis in June compared to the same period a year ago, according to figures published today by the British Retail Consortium (BRC). This is much higher than the 0.4 per cent fall in like-for-like sales expected by analysts, raising hopes of rising [...]
BRC: retail upturn slows June 8, 2009 RECOVERY in the UK retail sector slowed in May, as sales volumes returned to normal following a stellar April, according to the latest figures from the British Retail Consortium (BRC) and accountancy firm KPMG. Retail sales in May fell 0.8 per cent on a like-for-like basis and rose just 0.8 per cent on a total [...]