| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : UK Economy Last Updated: Jan 24, 2013 - 2:19 PM

Pace of UK retail sales growth slowed in year to January
By Finfacts Team
Jan 24, 2013 - 12:16 PM

Email this article
 Printer friendly page

The pace of UK retail sales growth slowed in the year to January, according to the CBI’s first monthly Distributive Trades Survey of 2013 - -  the Confederation of British Industry is the UK's main business lobbying group.

The survey, covering the first fortnight of January, shows 41% of retailers reported increased sales volumes compared with a year ago and 24% reported a fall. The resulting balance of +17%, although better than expected (+10%), shows a similar picture to December (+19%) but falls short of the robust growth in October (+30%) and November last year (+33%).

Sales volumes in January were broadly in line with the average for the time of year (+1%) for the first time since April 2012 (0%). But retailers expect sales to dip slightly below seasonal norms once again in February (-7%) and are predicting year-on-year sales growth to slow slightly further in the next month (+13%).

Judith McKenna, chair of the CBI Distributive Trades Panel and Asda chief operating officer said: “Despite mixed news from the high street over the last few weeks, strong sales growth in the grocery sector has added a touch of sparkle to overall retail sales.

“However, we are far from out of the woods. With tough trading conditions and subdued consumer spending adding to the uncertain economic picture, retailers will continue to face tough market conditions in the coming months.”

The survey showed retailers’ orders with suppliers rising on a year ago for a fifth consecutive month (+15%) but orders are expected to plateau in February (+1%). Stock levels were slightly more than adequate relative to expected demand (+5%), falling back for the second month running.

By sector, the survey shows that grocers recorded their ninth successive month of rising year-on-year sales (+41%) – holding up total retail sales growth, and partially compensating for falling volumes and weakening growth rates elsewhere.

Clothing sales growth (+13%) was at its lowest level since last August, and footwear and leather sales fell slightly on a year ago, for the third month running (-6%). Specialist food and drink sales (-32%) fell at their fastest since last October and sales of big-ticket household goods continued to fall (-43%).

Other survey figures showed wholesalers reporting broadly flat sales on a year ago (-3%), down on expected growth (+12%). Food and drink sales continued to rise on a year ago (+34%) but this was offset by falling sales in other sectors.

The motor traders sector also disappointed, with reported sales volumes down on a year ago (-11%), falling short of expectations (+18%).

The January 2013 CBI monthly Distributive Trades Survey was conducted between 2nd and 16th January 2013. 127 firms replied, of which 65 were retailers, 56 were wholesalers, and 6 were motor traders.

Check out our subscription service, Finfacts Premium , at a low annual charge of €25 - - if you are a regular user of Finfacts, 50 euro cent a week is hardly a huge ask to support the service.

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

UK Economy
Latest Headlines
UK in 28th rank of 30 advanced OECD nations for health resourcing: Economist Intelligence Unit
Business on a Shoestring: Keeping startup costs low in UK and Ireland
UK "underlying growth has stopped"
41,000 London properties held by foreign companies - 90% in tax havens
UK GDP rose 2.6% in 2014 up from 1.7% in 2013
Northern Ireland private economy contracted in December 2014
Northern Ireland may have a 12.5% corporation tax rate from 2017
UK moves ahead on 'Google tax' despite criticism
PwC charged with "selling tax avoidance on an industrial scale"; indulging in "scams"
Income inequality damages economies; Rich-poor gap highest in 30 years
Cameron warns of risk of another global recession
Only 80,000 of 1.1m UK jobs added since 2008 were full-time employee positions
UK added 112,000 jobs in third quarter; Pay inches above inflation - first time in 5 years
Germany and UK agree to restrict 'patent box' tax incentives to local R&D
German retailer Aldi to create 35,000 new jobs in UK by 2022
UK GDP growth slowed in the three months to September
UK retail sales fell in September; Tesco, Debenhams, Foxtons report market stress
UK faces more austerity and less chance of tax cuts
Globalization, the underclass and the need for a new model - Part 2
Northern Ireland PMI shows sharp increase in activity
UK economic growth revised up - above pre-recession level
London world’s most expensive city for companies to locate employees
UK retail sales in August best performance since January
UK economy added more net jobs in past 4 years than rest of the EU combined
UK to announce stiffer penalties for offshore tax evaders
UK economy since launch of the euro in 1999
IMF says British pound overvalued
UK profit warnings reach highest first half total since 2011
UK GDP up 3.1% in 12 months to end Q2 2014; Economy overtakes pre-crisis 2008 peak
Wealthy foreign students overtake finance professionals as renters in prime Central London areas
UK attracts most inward investment projects since records began in 1980s
Trends in UK and US part-time and self employment since 2008
UK labour participation at 73% - highest in decade; US at 63% - lowest since 1978
More than 20,000 client names of Jersey tax haven bank leaked
UK house prices overtook their 2007 peak in Q2 2014
UK recovery continues at robust pace
UK employment rose again at a record pace in the three months to April
UK tax revenues rose to record in 2013/2014 with help from tax dodgers
Overseas visits to London in 2013, up 43.5% in 10 years
UK economy grew 0.8% in Q1 2014; Almost back to 2008 peak