All eyes are on consumer spending pattern

Looked at overall, the retail sector has joined the recession.

30th August, 2008

Looked at overall, the retail sector has joined the recession.

Retail sales stalled last summer and, after a few months of flat-lining, have dropped each month of this year so far. The total volume of sales (after adjusting for inflation) in June was 5.2 per cent below the same month last year, after five successive months of falling sales.

However, the overall figures don’t tell the whole story. First, a decline in car sales is one...

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