Long term trend in retail sales remains positive
24th December 2013
·Retail sales volumes rose 0.
3% in November 2013, but were flat over the past three months ·Over the 12 months to November, retail sales volumes increased by 2.0% ·The amount spent online rose to a record 11.9% of the value of all retail spending ·Annual inflation of goods sold in the retail industry was 0.7% in November, well below total CPI inflation Commenting on the retail sales for November 2013, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said: -The positive increase in November partly offsets the sharp October fall, but month-to-month figures remain erratic, and paint a less buoyant picture than the recent good news from the labour market. That being said, the 2% year on year increase shows a long term figure that is stronger than other areas of the economy. -The figures are a stark reminder that the recovery is not yet secure, despite the growing optimism around the economy. The government must continue with its efforts to create an environment that supports enterprise that can create wealth and jobs, to maintain the progress of the UK recovery.