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Friday, 4th July 2008

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Retail sales down as consumers tighten belts



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RETAIL sales fell in successive months for the first time in more than two years, official figures showed today.
The Office for National Statistics said retail sale volumes fell by 0.2 per cent in April compared with March, the same as the previous month.

It is the first consecutive monthly fall since January 2006, and was driven by a 1 per cent drop in food store sales.

March's drop was revised upwards from a drop of 0.4 per cent by the ONS.
Statisticians said there was evidence last month of a shift in food sales to the discount sector and the impact of the slowing housing market on long-term sales.

The three-monthly sales figure between February and April for household goods, including DIY shops, fell by 1.9 per cent compared with the previous quarter.

It is the biggest fall for three years and has deteriorated each month since the start of this year.

Overall retail sales during the last three months grew by 1.5 per cent - down from the 1.9 per cent growth recorded in March.

Food store sales volumes during the three-month period rose by 1 per cent.

Booming sales of computer games such as Grand Theft Auto IV and Nintendo's Wii Fit helped lift sales in the "other stores" sector by record levels.

Volumes rose by 5.3 per cent between February and April compared with the previous quarter, the highest rise since records began in 1986.
The value of retail sales between February and April was 4.3 per cent better than a year ago.

ONS data showed retailers took a total of £20.1 billion during last month, 1.9 per cent better than the same month last year.

Earlier this month there was more evidence of a general sales slowdown from the British Retail Consortium.

It said the high street suffered its worst performance for three years in April as retail sales fell by 1.5 per cent.

This followed March's 1.6 per cent sales reverse as the retail sector plumbed debts not seen since 2005.

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  • Last Updated: 22 May 2008 10:34 AM
  • Source: n/a
  • Location: Yorkshire
 
 

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