'Act to prevent spending paralysis' – BRC

09 August, 2011

The British Retail Consortium says action is needed to prevent “spending paralysis” after a modest rise in retail sales in July.

Like-for-like value sales were 0.6% up on July 2010, figures from the BRC/KPMG Retail Sales Monitor show.

On a total basis, sales were up 2.5% over the year.

“When you take into consideration inflation and January’s increase in VAT, 2.5% growth effectively means people are buying fewer goods,” said BRC director general Stephen Robertson.

“Policymakers in Europe and the US must act quickly to implement a co-ordinated and credible strategy to reduce public sector deficits while supporting growth.

“Business and consumer confidence needs to be restored quickly before spending paralysis sets in.”




Bookmark this


Site Search

COMMENT

Faith in fakes

One of the most fascinating stories in wine, fit to stand alongside the Judgement of Paris, is that of Rudy Kurniawan, a man who managed to fool friends, auction houses and experts into believing they were drinking some of the world’s most expensive wines.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter