skip to main content
|

Financial News

Thursday June 18, 10:34 AM
May Brings Slight Dip In High Street Sales

By © Sky News 2009

May Brings Slight Dip In High Street Sales
Click to enlarge photo
Clothing and footwear stores suffered last month as retail sales volumes fell, latest official figures show.

Retail sales dropped 0.6% between April and May, the Office for National Statistics (ONS) said.

The figure was 1.6% down on the same month the previous year.

Total sales volumes in the three months to May were 0.6% higher than a year earlier - but that figure marks the lowest growth since December 1995.

Clothing and footwear stores saw volumes decline by 1.9% over May, while "other" stores - including sectors such as photography and sports - registered a 3% fall.

Retail figures have been better than expected in recent months, but the ONS result was well below market forecasts for a 0.3% increase.

Vicky Redwood, of Capital Economics, said: "We wouldn't be surprised if this marked the start of a period of rather weaker sales growth than of late.

"The credit crunch-driven nature of the slowdown so far appears to have primarily hit spending off the high street.

"But as the deteriorating labour market and future tax rises hit household incomes more generally, we expect a prolonged period of weakness in both retail and non-retail spending."

The results were unveiled as separate figures showed that online sales, which have been extremely robust during the downturn, grew at their slowest rate on record in May.

Click here for more breaking stories from Sky News

Send Article by Email  |  Send Article by IM  |  Blog This with Y! 360  |  Printable View

More From > Business
  Previous article : Figures Due To Show Soaring Government Debt ( Sky News)
  Next article : Sir Fred 'To Hand Back' Up To Half Of Pension ( Sky News)

Sky News
FTSE 100  Gainers  Losers
FTSE 250 Quotes by Sector
Dow Jones  Nasdaq  S&P 500
DAX 30   Eurostoxx 50
 

Recession

  Just how deep is the trough?
Banking Crisis
 

Are the banks out of the woods?

Stock Market Crash
  Explaining the global market turmoil
Money saving Tips
 

How to beat the credit crunch

Isn't Finance Funny?
 

Scandals and silliness


Message Boards
Property Pensions
Savings Utilities
UK Stocks Investing
Speach bubble housing shortage
Speach bubble Dubai Up a Shiity Creek Without a Paddle.
Speach bubble How much will House prices fall?
Speach bubble JESUS CHRIST=GOD MANIFEST IN THE FLESH-OUR SAVIOUR!!!
Speach bubble LLoyds TSB - the worst bank


Archives of
Copyright © 2009 Sky News. All rights reserved.