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UK Retail Sales continue to fall in July
inspector_monkfish
Posts: 9,276 Forumite
11:00 28Jul09 UK CBI: JUL RETAIL SALES VOLUME -15 VS -17 IN JUN
11:00 28Jul09 UK CBI: CONSENSUS JUL RETAIL SALES VOLUME WAS -9
11:00 28Jul09 UK CBI: NEXT MONTH EXPECTED AUG RETAIL SALES VOLUME IS -23
11:00 28Jul09 UK CBI: July Retail Sales Volume -15 Vs June -17
LONDON--Sales volumes at U.K. retailers remained weak in July,
although they did pick up marginally from a month earlier, a survey by the
Confederation of British Industry showed Tuesday.
The monthly Distributive Trades Survey's retail sales balance rose to -15
from -17 in June. The balance is the difference between the percentage of
retailers reporting higher sales and those reporting lower sales.
Market participants had been expecting the balance to pick up to -9,
according to a Dow Jones Newswires survey of economists last week.
"Many retailers are having a difficult summer and no pickup is expected in
August, said Andy Clarke, chairman of the CBI distributive trades panel. "The
recent sharp rise in unemployment will worry many consumers, and is likely to
constrain sales growth in the months ahead."
The CBI said grocers continued to report good levels of sales, while the only
other sector reporting a rise was leather and footwear.
Looking ahead, the CBI survey also showed a balance of -23 retailers expected
higher sales in August. Last month, a balance of -21 were expecting higher sales
in July.
The CBI survey showed that the volume of orders placed with suppliers dipped
to a balance of -13 in July from -10 in June.
The CBI survey continues to be weaker than other measures of retail sales and
could suggest a weaker performance in July, although with the good weather
remaining around the U.K., the Office For National Statistics could report a
further seasonal boost to sales in its July release.
The ONS said retail sales were stronger than expected in June as a long
period of sunny weather lifted purchases of clothing and footwear and sales at
department stores.
The CBI survey was carried out between June 24 and July 15. A total of 145
firms responded.
CBI Web site http://www.cbi.org.uk.
11:00 28Jul09 UK CBI: CONSENSUS JUL RETAIL SALES VOLUME WAS -9
11:00 28Jul09 UK CBI: NEXT MONTH EXPECTED AUG RETAIL SALES VOLUME IS -23
11:00 28Jul09 UK CBI: July Retail Sales Volume -15 Vs June -17
LONDON--Sales volumes at U.K. retailers remained weak in July,
although they did pick up marginally from a month earlier, a survey by the
Confederation of British Industry showed Tuesday.
The monthly Distributive Trades Survey's retail sales balance rose to -15
from -17 in June. The balance is the difference between the percentage of
retailers reporting higher sales and those reporting lower sales.
Market participants had been expecting the balance to pick up to -9,
according to a Dow Jones Newswires survey of economists last week.
"Many retailers are having a difficult summer and no pickup is expected in
August, said Andy Clarke, chairman of the CBI distributive trades panel. "The
recent sharp rise in unemployment will worry many consumers, and is likely to
constrain sales growth in the months ahead."
The CBI said grocers continued to report good levels of sales, while the only
other sector reporting a rise was leather and footwear.
Looking ahead, the CBI survey also showed a balance of -23 retailers expected
higher sales in August. Last month, a balance of -21 were expecting higher sales
in July.
The CBI survey showed that the volume of orders placed with suppliers dipped
to a balance of -13 in July from -10 in June.
The CBI survey continues to be weaker than other measures of retail sales and
could suggest a weaker performance in July, although with the good weather
remaining around the U.K., the Office For National Statistics could report a
further seasonal boost to sales in its July release.
The ONS said retail sales were stronger than expected in June as a long
period of sunny weather lifted purchases of clothing and footwear and sales at
department stores.
The CBI survey was carried out between June 24 and July 15. A total of 145
firms responded.
CBI Web site http://www.cbi.org.uk.
Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)
(MSE Andrea says ok!)
0
Comments
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11:00 28Jul09-UK retail sales fall faster than expected in July
LONDON, July 28 - British retail sales fell faster than expected in July but at a slower pace than in June, a survey by the Confederation of British Industry showed on Tuesday.
The CBI's distributive trades survey sales balance rose to -15 this month from -17 in June, a smaller increase than the rise to -12 expected by economists.
For August, retailers expected conditions to deteriorate further, seeing a balance of -23. For July they had expected -21.
"Many retailers are having a difficult summer and no pick up is expected for August," said Andy Clarke, chief operating officer of Asda <WMT.N> and chairman of the survey panel.
"But the overall sales falls are not as heavy as we saw at the start of the year, and some retail sectors are reporting growth."
The CBI said rising unemployment was likely to constrain growth in retail sales going forward.
Grocers and shoe shops were the only sectors to see annual growth in July. Durable household goods, furniture and DIY stores did badly but not as much as earlier in the year.
Motor traders' sales volumes also fell sharply in the year to July.Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
The majority of all retail spending over recent years has been on the back of HPI.
People don't have money anymore, they have equity. Take that away and there is nothing.
Debt was the new wealth, but that is now revealed to be a sham.
That's the phoney economy for you."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Can't say it is surprising, this as been one hell of a wet month.0
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they obviosuly haven't included my missus and kids shopping sprees of late in these figures :eek:Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
The majority of all retail spending over recent years has been on the back of HPI.
People don't have money anymore, they have equity. Take that away and there is nothing.
Debt was the new wealth, but that is now revealed to be a sham.
That's the phoney economy for you.
People are struggling to get credit cards and/or having current credit limits slashed. Last week my First Direct credit card was cut from 20K to 3K - I was gutted!0 -
UK GDP to fall further then. Down 5% for 2009 vs 2008 is starting to look conservative.0
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Anyone noticed that the BRC always report falling sales whereas the ONS always report year on year retail sales increases (latest +1.4%) year on year in June.
Anyone would think the BRC had a VI in talking the economy down to influence the govt in to trying to encourage consumer spending...I think....0 -
Anyone noticed that the BRC always report falling sales whereas the OS always report year on year retail sales increases (latest +1.4%) year on year in June.
Anyone would think they had a VI in talking the economy down to influence the govt in to trying to encourage consumer spending...
There is something called the thrift paradox.
People fear they'll lose their jobs so they save more. The result of higher levels of saving is lower GDP which means they're more likely to lose their jobs.
That's why Government ministers always bang on about green shoots and 'not talking ourselves into recession'.0 -
People are struggling to get credit cards and/or having current credit limits slashed. Last week my First Direct credit card was cut from 20K to 3K - I was gutted!
And I suppose you think that has nothing to do with falling house prices."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
There is something called the thrift paradox.
Boo hiss Keynesian unorthodoxy - haven't you heard of the efficient market hypothesis
My point is that this particular survey is always gloomy but actually consumption has been one component of GDP that has held up paradoxically well.I think....0
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