Data signal UK's exit from crisis continues
Source: Agencies |
June 18, 2010, Friday
|
Print Edition
Print Edition
RETAIL sales in Britain rose 4.4 percent in the year to May while vehicle production soared by 59 percent, two reports said yesterday, suggesting the economic recovery from a deep recession is continuing for a third quarter.
The figures indicate consumer spending is holding up better than expected, though the outlook is clouded by looming cuts in public expenditure and possible tax hikes.
The Office for National Statistics said retail sales rose 0.4 percent from April to May, but half of that gain reflected rising prices for gas.
Vicky Redwood, economist at Capital Economics, said sales in the second quarter were on course for a strong rise.
"But with consumer incomes about to be hit by tax rises and cuts in public sector employment and wages, we doubt that this resilience will last," Redwood said.
The figures indicate consumer spending is holding up better than expected, though the outlook is clouded by looming cuts in public expenditure and possible tax hikes.
The Office for National Statistics said retail sales rose 0.4 percent from April to May, but half of that gain reflected rising prices for gas.
Vicky Redwood, economist at Capital Economics, said sales in the second quarter were on course for a strong rise.
"But with consumer incomes about to be hit by tax rises and cuts in public sector employment and wages, we doubt that this resilience will last," Redwood said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
