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17/01/2002
Retail sales down for first time in 20 months
Despite the current high street spending spree, UK retail sales during December were down for the first month since April 2000.
Releasing the figures, the Office for National Statistics (ONS) said that the decrease – of 0.3 per cent – occurred because the previous month’s sales volumes had been extremely strong. In total, sales volumes for 2001 grew by 5.9 per cent, in comparison to 4.6 per cent for the previous year.
However, the fall meant that many retailers did not do as well as expected during the crucial Christmas period, despite predictions that the retail sector is to continue to show strong activity.
“These figures are a real shock,” commented analyst Philip Evans, from Investec. “Survey evidence had pointed to a big rise in sales in December so this fall is a major surprise.” (CL)
Releasing the figures, the Office for National Statistics (ONS) said that the decrease – of 0.3 per cent – occurred because the previous month’s sales volumes had been extremely strong. In total, sales volumes for 2001 grew by 5.9 per cent, in comparison to 4.6 per cent for the previous year.
However, the fall meant that many retailers did not do as well as expected during the crucial Christmas period, despite predictions that the retail sector is to continue to show strong activity.
“These figures are a real shock,” commented analyst Philip Evans, from Investec. “Survey evidence had pointed to a big rise in sales in December so this fall is a major surprise.” (CL)
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