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High street sales growth in slowdown

first_imgThursday 27 January 2011 7:41 pm RETAIL sales for January are up on the same time last year, yet sales growth slowed considerably, according to the Confederation for British Industry (CBI).And consumer confidence has plummeted to a 12 month low, separate data from researchers GfK NOP revealed today.The positive balance of retailers reporting a year-on-year increase in sales dropped from 56 per cent in December to 37 per cent this month, the CBI reported.And retailers anticipate a further slowdown in growth for next month, the CBI said. A balance of 25 per cent expect February’s sales to be greater than those in February 2010.Some analysts even doubted the growth in sales shown in the CBI’s distributive trades survey.“The survey’s balance continues to be well above the long-run average and to report optimism which has not materialised in the official data,” said Simon Hayes of Barclays Capital. “The results have been out of kilter with the far weaker official and British Retail Consortium measures for a few months now,” added Vicky Redwood of Capital Economics.The total volume of sales in December increased by just 2.6 per cent on the previous year – below the rate of inflation – the government’s Office for National Statistics revealed last week.Meanwhile the GfK NOP consumer confidence index dropped eight points this month to -29. “January’s eight point drop represents an astonishing collapse in consumer confidence,” said Nick Moon of GfK NOP social research. “In the 35 years since the index began, confidence has only slumped this much on six occasions,” he said.The government’s second VAT rise in 12 months, combined with rising inflation approaching four per cent, are likely squeezing household finances, analysts said. High street sales growth in slowdown Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told Show Comments ▼center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp KCS-content Share whatsapplast_img

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