National Statistics logo 2 December 2004

Economy

Retail Sales
Growth slows in second half of 04


Retail sales growth
Retail sales growth (%)
Underlying retail sales growth has remained at a rate distinctly lower than that shown throughout the first half of this year.

The volume of retail sales in the three months August to October was 1.2 per cent higher than in the previous three months and follows growth of 1.1 per cent in the three months to September. By comparison, the equivalent three-monthly growth rates for the first half of the year averaged 1.8 per cent and did not fall below 1.7 per cent. The latest three-monthly growth in sales for food stores was 0.9 per cent and compares to 1.6 per cent for non-food stores.

Annual comparisons show that sales volumes in the three months to October were 6.6 per cent higher than in the same period in 2003. Sectors showing strongest growth over the year were clothing stores, other non-food stores and non-store retailing and repair.

Analysis of monthly figures shows that the total sales volume decreased by 0.4 per cent between September and October. This follows a 1.1 per cent increase last month and a 0.7 per cent increase in August. There was a decrease on the month for all sectors apart from clothing stores.

The unadjusted value of retail sales (the total actual takings) in October totalled £19.1 billion and average weekly sales were £4.8 billion. This was 4.3 per cent higher than a year ago and represents the lowest annual growth since December 2003. Sales values increased over the year for all sectors apart from non-specialised (mainly department) stores, which saw a decrease of 1.4 per cent.

Retailers reported some positive impact in October of early Christmas shopping. The overall increase in the unadjusted sales value from September to October was, however, slightly smaller than in the previous two years.

Notes:
The October survey period covered the 4 weeks from 3 October 2004 to 30 October 2004.

The volume of retail sales is the total takings adjusted for inflation and the value of retail sales is the total actual takings.

All volume statistics referred to above are seasonally adjusted.

Internet sales by retailers, for whom the majority of sales are in-store, are included in the sales of the relevant store category.
Published on 18 November 2004 at 9:30 am


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