iPad mini not enough to brighten retail sales gloom
Friday 21 December 2012
A boom in tablet computer sales sparked by the launch of Apple's iPad mini failed to save retailers from stagnant sales in November, official figures showed today.
Retail-sales volumes, including petrol, failed to budge at all last month, well short of expectations for 0.4 per cent growth over the month and adding to worries over a difficult Christmas on the High Street.
Although the launch of Apple’s latest must-have pushed up household goods sales by a stunning 3.8 per cent over the month, department stores, clothing and footwear, and other shops such as sportswear and jewellers registered a decline.
The figures come a day after the CBI’s own distributive trades survey revealed business is worse than usual for the time of year, with price-slashing widespread among major retailers. In the longer term there was little more cheer as sales in the last three months are also flat compared to the previous quarter — the weakest performance since September last year.
Economists said the disappointing figures increased the risks of the economy slipping back into an unprecedented “triple-dip” in the current quarter.
Chris Williamson, chief economist at financial data provider Markit, said: “Sales could even fall over the fourth quarter as a whole according to the indications available so far.
“With production and trade data also turning down towards the end of the year, it’s looking very unlikely that the consumer is going to save the economy from sliding back into another contraction.”
- 1 Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
- 2 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 3 People who sleep more than eight hours are more likely to have a stroke, research shows
- 4 Kanye West climbs on table at Nando's to crowd chants of 'Yeezus' before Brit Awards 2015 performance of 'All Day'
- 5 Muslim women's rights campaigner writes heartfelt letter to girls thinking of joining Isis
Ukraine crisis: Putin will cut gas to Europe unless Russia is paid by the end of the week
Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
Isis burns thousands of books and rare manuscripts from Mosul's libraries
Missing Mexico teachers: Protests organised by union quashed in violent police crackdown
Mohammed Emwazi: Nine things we now know about man named as Isis militant 'Jihadi John'
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
Ukraine crisis: 'One miscalculation, and Britain faces an existential threat to our whole being...'
iJobs Money & Business
£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...
£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...