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December 9, 2009

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Retail Spending Also Sluggish

BRITISH retail sales values rose at their slowest annual pace last month since August, held back by food sales where a fall in inflation led to their weakest performance in more than two years, according to a survey released yesterday.

The British Retail Consortium said the value of like-for-like sales rose 1.8 percent in November compared with a year ago. The value of total sales - which includes new floorspace - was 4.1 percent higher.

Both readings were the weakest since August and may dampen optimism ahead of the crucial Christmas shopping period.

"We would have expected much stronger growth because the comparison is with very poor results in 2008 when November was the second worst performing month of the year," said BRC Director General Stephen Robertson.


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