ONS releases sales figures
Value and volume up but retail sales volumes have slowed in recent months
The seasonally adjusted value of retail sales in September 2010 rose by 2.4 per cent, compared with September 2009.
The seasonally adjusted volume of retail sales in September 2010 rose by 0.5 per cent, compared with September 2009.
The value of retail sales in September 2010 was 2.4 per cent higher than in the same month a year earlier.The monthly sales values for predominantly food stores was 1.7 per cent higher than a year ago whilst for predominantly non-food stores it was 4.0 per cent higher than a year ago.
Within predominantly non-food stores, the largest rise was in non-specialised stores which increased by 7.6 per cent. Textile, clothing and footwear stores rose by 6.1 per cent. Other stores increased by 5.0 per cent. Household goods stores decreased by 2.3 per cent over the period.
Richard Lowe, Head of Retail and Wholesale at Barclays Corporate, said,”Retailers proved fairly resilient in the recession as other sectors took the brunt of the downturn in consumer spending.
Nevertheless, retail sales volumes have slowed in recent months and a period of uncertainty lies ahead as households and businesses digest the details of the Comprehensive Spending Review. Retailers will be hoping to benefit from the traditional seasonal uplift and the anticipation that consumers will bring purchases forward ahead of the VAT increase, although there is little evidence to support this theory yet.”
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