Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (15140)	11/8/2004 12:36:16 PM
From: mishedlo	Respond to of 116555

UK Oct retail sales slumps to year low - BRC Monday, November 8, 2004 5:30:51 PM afxpress.com LONDON (AFX) - High street spending in the UK slumped to a year low in October, going by a key survey of the sector, proving true leaks over the weekend In its monthly retail sales monitor, the British Retail Consortium said like-for-like sales in October were up only 0.5 pct up from the same month last year. The figure is the lowest all year and comes under the 2.0 pct mark set in September. The BRC earlier sought to distance itself from the leaks in the weekend press which correctly predicted that the main index will slip to a 2004 low of anything between zero and 0.5 pct Meanwhile, total sales, which also include sales in new stores, also slid to its lowest level so far into 2004, rising just 3.0 pct from 4.6 pct in Sept, the BRC said The three-month trend rate of growth fell from 1.5 pct in September to 1.1 pct for like-for-like sales, and from 4.1 pct to 3.7 pct for total sales October started well, especially for clothing and footwear retailers, but trade slowed across the board in the second half, picking up only slightly at the end of the month, BRC said. It added that consumer confidence remains weak as people are wary about making big-ticket purchases and exercising caution about spending on non-essentials. "There is no escaping that the High Street trading environment is tough in the run-up to Christmas. Sales growth hit its lowest level for 2004 in October, reflecting the underlying trend of weakening consumer demand that we have seen over recent months," said Kevin Hawkins, Director General of the BRC. But he was also cautiously optimistic "Some of the more downbeat predictions we've seen in the press of late could be premature. October often sees the shopper pause for breath before Christmas trading really starts. It could still go either way," he added