Shock sales slide raises economy fears
Friday 16 November 2012
The worst month for the high street since April intensified fears over more pain for the UK economy yesterday, raising speculation of a return to the printing presses by the Bank of England.
The shock, 0.8 per cent slide in sales volumes for struggling retailers during October was far worse than feared in the City and put a "serious dent" into growth hopes for the fourth quarter, according to City economists.
Despite a 1 per cent growth surge between July and September, yesterday's figures add to evidence of a tough October for the British economy.
IHS Global Insight's Howard Archer said the figures were "disappointing and worrying" with inflation also rising to 2.7 per cent.
The worst-affected sectors were food and clothing, with grocers suffering their worst month for a year. Clothing and footwear retailers endured a 2.3 per cent sales slump, the worst since an Easter-impacted April.
- 3 Russian girl takes her own life after parents find pornography on her computer
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Kim Kardashian on Bruce Jenner's 'story': 'We support him no matter what, and I think when the time is right, he'll talk'
Russian girl takes her own life after parents find pornography on her computer
Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...