Retail sales see zero growth in September
Retail sales see zero growth in September
Thursday 22nd October 2009
Retail sales remained static for September, the second month in a row to see no change in sales.The figures from the Office of National Statistics (ONS) suggest shoppers are remaining cautious about spending in the run-up to Christmas.
Commentators have said the figures exemplify the "fragile" state the economy is still in. But despite the lack of monthly growth, retail sales were up 2.4 per cent on September last year, although this was below the 2.8 per cent forecast, and hoped, by many.
Food sales fell by 0.1 per cent in September, with non-food items showing no growth. Sales in textile, clothing and footwear fell by 0.5 per cent.
Richard Lim, British Retail Consortium (BRC) economist, said: "The official data confirm our findings that consumer confidence is fragile. There’s a sense that the mood of customers is beginning to improve, but this has yet to be reflected in these figures.
"Food has been the main driver of overall sales growth for the past few years, but this September saw slower food sales growth as food inflation weakened.
"Some sectors are seeing confidence trickle back – clothing and furniture, for example, saw sales growth up a little. Though this year’s run-up to Christmas period is compared to very weak figures last year – when total sales growth fell below zero.
"Retailers will be hoping for positive news about employment and housing to boost consumer sentiment."
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