Economy
Retail Sales Growth slows in second half of
04
 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 |