'Act to prevent spending paralysis' – BRC

09 August, 2011

The British Retail Consortium says action is needed to prevent “spending paralysis” after a modest rise in retail sales in July.

Like-for-like value sales were 0.6% up on July 2010, figures from the BRC/KPMG Retail Sales Monitor show.

On a total basis, sales were up 2.5% over the year.

“When you take into consideration inflation and January’s increase in VAT, 2.5% growth effectively means people are buying fewer goods,” said BRC director general Stephen Robertson.

“Policymakers in Europe and the US must act quickly to implement a co-ordinated and credible strategy to reduce public sector deficits while supporting growth.

“Business and consumer confidence needs to be restored quickly before spending paralysis sets in.”




Bookmark this


Site Search

COMMENT

Looking back to look forward

Wine is a liquid time capsule. Drinking older vintages not only recalls the weather conditions and winemaking styles of the past, it encourages us to reflect upon our own histories. Such reminiscence often inclines towards romanticised nostalgia. Especially after the second bottle. But looking back is a great way of learning about the future.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter