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Third Recession-Retail Flops As Osborne Loses Grip
DecentLivingWage
Posts: 738 Forumite
Media reporting that hopes for 'good news that keeps on coming' dries up with the publication of the real retail figs for Jan. After adjusting for seasonal things like the bad weather, the sales figs are much worse than expected as the economy goes back into reverse - the City had forecast a 0.4% month-on-month rise in retail sales volumes in January in spite of the wintry weather.
And the fall in retail sales volumes in December was revised yesterday by the ONS from 0.1% to 0.3%.
Comparing the November to January period with the preceding three months, retail sales volumes were down 0.8%. This was the weakest three-month-on-three-month comparison since March 2010. And sales volumes in January were down 0.6% on the same month of 2012 – the worst year-on-year comparison since last spring.
With less people wanting our stuff abroad, it really is time for Osborne to admit his miscalculations and turn to focus on the home market instead - and quick as the bad news just keeps coming. A temporary cut in VAT would help us all. the economy and his failing reputation.
And the fall in retail sales volumes in December was revised yesterday by the ONS from 0.1% to 0.3%.
Comparing the November to January period with the preceding three months, retail sales volumes were down 0.8%. This was the weakest three-month-on-three-month comparison since March 2010. And sales volumes in January were down 0.6% on the same month of 2012 – the worst year-on-year comparison since last spring.
With less people wanting our stuff abroad, it really is time for Osborne to admit his miscalculations and turn to focus on the home market instead - and quick as the bad news just keeps coming. A temporary cut in VAT would help us all. the economy and his failing reputation.
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Comments
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DecentLivingWage wrote: »Media reporting that hopes for 'good news that keeps on coming' dries up with the publication of the real retail figs for Jan. After adjusting for seasonal things like the bad weather, the sales figs are much worse than expected as the economy goes back into reverse - the City had forecast a 0.4% month-on-month rise in retail sales volumes in January in spite of the wintry weather.
And the fall in retail sales volumes in December was revised yesterday by the ONS from 0.1% to 0.3%.
Comparing the November to January period with the preceding three months, retail sales volumes were down 0.8%. This was the weakest three-month-on-three-month comparison since March 2010. And sales volumes in January were down 0.6% on the same month of 2012 – the worst year-on-year comparison since last spring.
With less people wanting our stuff abroad, it really is time for Osborne to admit his miscalculations and turn to focus on the home market instead - and quick as the bad news just keeps coming. A temporary cut in VAT would help us all. the economy and his failing reputation.
Seasonal adjustment doesn't adjust specifically for bad weather, it just seeks to adjust for seasonal patterns (Xmas spending, people taking holidays in Summer etc.).
The Markit PMI is up to well above 50 so it is highly unlikely that GDP will fall in Q1 of 2013. Sorry to be the bearer of bad news:rotfl:
Well done for keeping the post on topic BTW. Shame you couldn't get it right.0 -
Tell that to the Financial Times... they must have got it wrong
... perhaps I should add in the rest of the bad news from the artiicles - about food sales and the other article about exports being hurt by the pound.... 0 -
DecentLivingWage wrote: »Tell that to the Financial Times... they must have got it wrong ... perhaps I should add in the rest of the bad news from the artiicles - about food sales and the other article about exports being hurt by the pound....
You could link to the article.
No snide comments about child rape so that's an improvement on your usual output.0 -
Nice people who are gentlemen don't say things like that.
So I guess The Telegraph is wrong about retail sales and Osborne's discredited economic policy as well then? Funny, because one of its headlines says 'Today's Retail Figures Highlight Severe Flaws In Britain's Economic Policy'
http://blogs.telegraph.co.uk/finance/thomaspascoe/100022858/todays-retail-figures-highlight-severe-flaws-in-britains-economic-policy/0 -
Seasonal adjustment doesn't adjust specifically for bad weather, it just seeks to adjust for seasonal patterns (Xmas spending, people taking holidays in Summer etc.).The ONS published retail figures for January this morning, and they're bad. Sales fell by 0.6pc both on the month and on the year. Sadly, this cannot be dismissed as a rogue result arising thanks to the unusually snowy weather in January – the last three months relative to the same three months last year shows a 0.8pc decline.
http://blogs.telegraph.co.uk/finance/thomaspascoe/100022858/todays-retail-figures-highlight-severe-flaws-in-britains-economic-policy/A journey of a thousand miles begins with a single step
Savings For Kids 1st Jan 2019 £16,112
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DecentLivingWage wrote: »Nice people who are gentlemen don't say things like that.
What they don't bring up the fact that you made a joke about children being raped? I would say that nice people don't make jokes about child rape.DecentLivingWage wrote: »So I guess The Telegraph is wrong about retail sales and Osborne's discredited economic policy as well then? Funny, because one of its headlines says 'Today's Retail Figures Highlight Severe Flaws In Britain's Economic Policy'
http://blogs.telegraph.co.uk/finance/thomaspascoe/100022858/todays-retail-figures-highlight-severe-flaws-in-britains-economic-policy/
I don't get it. You were talking about an FT article and now it's the Telegraph. Either way, to concentrate solely on retail figures for a single month is to look at a small part of the picture.0 -
BACKFRMTHEEDGE wrote: »
Precisely. The seasonal adjustment doesn't take into account weather conditions.0 -
BACKFRMTHEEDGE wrote: »
Yes, there are loads of these worrisome articles on fading confidence in the chancellor - from his own people too! It goes on to say
'As the numbers tip the UK back in the direction of a technical recession, the Chancellor will come under further pressure to take radical action on tax to stimulate the economy. '
Surely he must have some ideas of his own - the fear is that once committed to the 'deliberate-impoverishment' model' theres no turning back and the only way is down. He will bring Cameron and other ill-advised Cons down with him I fear as they are in denial.0 -
DecentLivingWage wrote: »Yes, there are loads of these worrisome articles on fading confidence in the chancellor - from his own people too! It goes on to say
'As the numbers tip the UK back in the direction of a technical recession, the Chancellor will come under further pressure to take radical action on tax to stimulate the economy. '
Surely he must have some ideas of his own - the fear is that once committed to the 'deliberate-impoverishment' model' theres no turning back and the only way is down. He will bring Cameron and other ill-advised Cons down with him I fear as they are in denial.
The coalition won't change anything - there is no plan B and Tories don't do U turns - even when it is obvious that is what is required.
2 years and 3 months to go.....A journey of a thousand miles begins with a single step
Savings For Kids 1st Jan 2019 £16,112
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I like DLW's reference to this being the worst quarter on quarter comparison since march 2010 as evidence that the govt has lost its way.
So basically DLW's claim is that things are nearly as bad as they were under the last government.0
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