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BRC disapproves official retail growth figures of November
18 Dec '08
2 min read
Unexpectedly high official retail sales figures paint an overly rosy picture of the reality faced by customers and retailers, said the British Retail Consortium (BRC).
Today's Office for National Statistics (ONS) figures show the total value of sales in November were up by a surprising 2.9 per cent on a year ago. The BRC's figures for the same period showed a 0.4 per cent fall.
Stephen Robertson, Director General of the British Retail Consortium, said: “Most retailers won't recognise these surprisingly strong ONS retail figures. The idea that both total sales by value and volume went up significantly compared to a year ago is hard to explain.
The BRC's latest data showed, for the first time in fourteen years, the value of total sales fell for two consecutive months – far more consistent with the reality of weak consumer confidence and rising unemployment."
“While conditions remain tough, retailers have reacted with high-profile price cuts and promotions. This, together with the recent reductions in VAT and interest rates, has meant in the last few days shoppers have come out in force.
Some retailers will now dare to breathe a sigh of relief that customers are simply delaying their Christmas spending, rather than cancelling it entirely”, he added by saying
Today's Office for National Statistics (ONS) figures show the total value of sales in November were up by a surprising 2.9 per cent on a year ago. The BRC's figures for the same period showed a 0.4 per cent fall.
Stephen Robertson, Director General of the British Retail Consortium, said: “Most retailers won't recognise these surprisingly strong ONS retail figures. The idea that both total sales by value and volume went up significantly compared to a year ago is hard to explain.
The BRC's latest data showed, for the first time in fourteen years, the value of total sales fell for two consecutive months – far more consistent with the reality of weak consumer confidence and rising unemployment."
“While conditions remain tough, retailers have reacted with high-profile price cuts and promotions. This, together with the recent reductions in VAT and interest rates, has meant in the last few days shoppers have come out in force.
Some retailers will now dare to breathe a sigh of relief that customers are simply delaying their Christmas spending, rather than cancelling it entirely”, he added by saying
British Retail Consortium
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