Soaring services sector drives business activity to record high August 5, 2013 HOPES that the recovery is picking up steam were lifted further yesterday, after the UK’s businesses reported the strongest month of growth since records began. Markit’s surveys of the services, manufacturing and construction sectors in July got the most positive responses ever, bolstering recent signs that the economy is returning to sustained expansion. The unparalleled [...]
Coming Soon: The death of paper money June 24, 2013 BRITONS did 10 per cent less of their shopping with cash last year as people turn their backs on coins and notes – leading some analysts to predict a cash-free future. Only eight per cent of consumers believe that traditional coinage will be the payment method of choice by 2020, with contactless cards and new [...]
Economic data picks up but the Bank must clarify its position on inflation August 6, 2013 THIS week has seen a further significant pick-up in the economic data. The Markit/CIPS purchasing managers’ index (PMI) showed services output in July rising at the fastest pace since the boom-times of 2006. The “composite PMI” (which includes manufacturing and construction as well as services) rose at its fastest ever recorded rate since the index [...]
Retailers urge Osborne to cut business costs February 19, 2013 THE COST of running a retail business has soared far beyond the increase in sales over the past six years, the British Retail Consortium (BRC) has warned today, as it urged the chancellor to slash red tape and support consumer spending. Retailers’ total operating costs have increased by 21 per cent – a huge £20bn [...]
The Debate: As the horse meat scandal continues, is it fair to lambast retailers for their role in the crisis? February 17, 2013 YESPaul Huck The horse meat scandal is evidence of the weaknesses within supply chains of major food retailers. Businesses have still not shown that they are doing everything in their power to prevent such scandals in the future. The golden rule – which many retailers have not abided by – is to know your suppliers. [...]
Retailers warn politicians red tape is stifling social mobility January 30, 2013 RETAILERS last night urged politicians in Westminster to avoid stifling the work opportunities it offers to people from less privileged backgrounds. On the evening that the British Retail Consortium (BRC) held its annual parliamentary reception, the group called on government to cut back on red tape. Retail is “one of the most meritocratic sectors of [...]
Shop price inflation droops to 38-month low in January 2013 February 5, 2013 PRICE rises in shops were recorded at their slowest rate in over three years in January, according to data out this morning. Shop inflation ran at just 0.6 per cent over the year to last month, according to figures from the British Retail Consortium (BRC), the lowest rate since November 2009. This impressively low number [...]
Retail enjoys January rebound with best growth in 13 months February 4, 2013 LIKE-FOR-LIKE sales grew at their fastest annual pace for 13-months in January, delivering a much-needed rebound to the embattled retail sector. January’s sales were 1.9 per cent higher than during the same month last year, figures from the British Retail Consortium (BRC) and KPMG revealed this morning. Total spend grew an even healthier three per [...]
Bad Christmas for retailers as sales stay flat January 7, 2013 BRITISH retailers failed to see a Christmas boom, with sales only edging up on the year and failing to beat inflation, according to industry data out today. Total sales rose just 1.5 per cent compared with December 2011, according to the British Retail Consortium. That compares with the latest inflation data showing prices rose by [...]
Retail gloom as UK stays at home February 17, 2013 SHOPPERS have been deserting the UK’s struggling retailers since the start of the year, adding to gloom in the sec- tor as sales fall for the first time in years and well-established firms col- lapse into administration. Total UK retail footfall sunk 4.6 per cent over the year to January, data from the British Retail [...]