Tag: spending

Australia’s economy recovers in quarter two

Australia’s economy recovers in quarter two

September 7, 2011 | 0 Comments More
UK consumer confidence dips further in July

UK consumer confidence dips further in July

A survey of 2,000 individuals, conducted between July 1 and 10, has revealed a fall in consumer confidence. According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence dived by 5 points to -30 in July – edging closer to the -31 seen in April. The index was also worse [...]

July 29, 2011 | 0 Comments More
Nationwide: UK consumer confidence down in June

Nationwide: UK consumer confidence down in June

The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of June. The building society’s consumer confidence index lost 4 points to 51 last month, which reverses some of the 11 point rise seen in May, which represented one of the largest gains on record. The [...]

July 21, 2011 | 0 Comments More
FSB calls for VAT cut

FSB calls for VAT cut

The Federation of Small Businesses (FSB) is urging the Government to cut the rate of VAT in core sectors of the economy. The suggestion comes after the FSB’s latest Business Confidence Report, which saw a sharp fall in sentiment during the second quarter. VAT was raised to 20% earlier this year to raise billions of [...]

July 18, 2011 | 0 Comments More
Dixons like-for-like sales 2% lower

Dixons like-for-like sales 2% lower

Electrical goods retailer Dixons has today reported like-for-like sales fell 2% in the year to April. The results come just a day after fellow electrical goods chain Comet said sales fell 6.8% for the 12 month period. The figures are evidence of consumers reining in their spending and opting not to purchase big-ticket items at [...]

June 23, 2011 | 0 Comments More
Next warns of challenging times ahead

Next warns of challenging times ahead

Next, which is Britain’s second largest fashion retailer, has today said consumers are tightening their purse strings in the face of soaring inflation and Government spending cuts. The retailing giant announced record profits but has warned of challenging times ahead for the High Street. It shares jumped 5% earlier today after posting record profits of [...]

March 24, 2011 | 0 Comments More
Consumer spending fears hits retailers

Consumer spending fears hits retailers

According to the latest Confederation of British Industry (CBI) distributive trades survey, retailers are concerned about consumers tightening their purse strings amid rising inflation. The CBI’s survey established that the sales balance fell to +6 this month from +37 in January - far below expectations of a +30 reading. Furthermore, retailers expect sales growth to [...]

February 24, 2011 | 0 Comments More
Philippines economy grows at record pace

Philippines economy grows at record pace

The National Statistical Coordination Board has today revealed the Philippine economy grew at its fastest pace in 2010 - expanding by 7.3% from a year earlier. The growth was boosted by a rise in business and consumer spending and represented the fastest annual expansion since democracy was restored 24 years ago. The latest growth will [...]

January 31, 2011 | 0 Comments More
ONS: UK retail sales hit by big freeze in December

ONS: UK retail sales hit by big freeze in December

The Office for National Statistics (ONS) has today reported UK retail sales were hit by the severe wintry weather in December and rising prices. According to the ONS, retail sales during December were down by 0.8% from the previous month - much worse than expected. It was the worst annual performance for any December since [...]

January 21, 2011 | 0 Comments More
John Lewis sees slowdown in weekly sales

John Lewis sees slowdown in weekly sales

The John Lewis Partnership, which is regarded as a barometer of British retailing, has revealed sales slowed in the week to 15 January - attributed to the VAT hike from 17.5% to 20%. In the previous week, the renowned employee-owned department store said the bank holiday, on Monday 3 January, saw shoppers buy furniture and [...]

January 21, 2011 | 0 Comments More
VAT rate rises today to 20%

VAT rate rises today to 20%

The rate of VAT will today rise from 17.5% to 20% as the Government looks to raise billions of pounds in order to trim the UK’s budget deficit. While many are prepared for the increase, retail sales are expected to be hit as consumers are expected to cut back on their spending over the coming [...]

January 4, 2011 | 0 Comments More
Retail sales to slump following VAT hike

Retail sales to slump following VAT hike

According to experts, the forthcoming VAT hike will have resulted in the purchase of big-ticket items - boosting retail sales in December and the first few days of January. However, the VAT rise from 17.5% to 20%, which kicks in tomorrow, is expected to mean consumers will cut back on their spending over the coming [...]

January 3, 2011 | 0 Comments More
UK households still financially squeezed

UK households still financially squeezed

A new survey by the Bank of England has revealed 51% of households are struggling to meet repayments for credit card bills and other unsecured debts. The survey, which questioned almost 2,000 households, established 90% of respondents expect to be affected by the Government’s massive spending cuts. Almost of quarter (22%) of respondents said they [...]

December 13, 2010 | 0 Comments More
Forthcoming VAT hike could boost Christmas sales

Forthcoming VAT hike could boost Christmas sales

The British Retail Consortium (BRC) has revealed some optimism among retailers for the Christmas period. Many believe the Christmas period will be no worse than last year - despite consumers being fearful of the Government’s spending cuts and unemployment. According to the BRC’s snapshot of 17 major retailers, which represents up to 51% of the [...]

December 13, 2010 | 0 Comments More
BAE Systems to cut 1,400 UK jobs

BAE Systems to cut 1,400 UK jobs

Defence giant BAE Systems has today announced plans to reduce its workforce by 1,400 - primarily the result of the Government’s decision to cut back on defence spending. The jobs will go in Lancashire, Greater Manchester, Moray, Ayrshire, Hampshire, Rutland and Somerset. In a statement, the company said: “Following a detailed review of the implications [...]

December 9, 2010 | 0 Comments More
Japanese economic growth revised upwards

Japanese economic growth revised upwards

Official figures have today revealed the Japanese economy grew faster than estimated in the third quarter due to stronger corporate spending. The world’s third largest economy grew by 1.1% in the July to September period, up from the first estimate of 0.9%. On an annual basis, the economy expanded by 4.5% from an earlier estimate [...]

December 9, 2010 | 0 Comments More
Euro zone retail sales pick up in October

Euro zone retail sales pick up in October

Eurostat has today revealed a rise in euro zone retail sales for the month of October, after two months of declines. Retail sales grew 0.5% in October on the month and were 1.8% higher on an annual basis, according to the European statistics office. The increase also beat analysts’ expectations of a 0.2% rise. Europe’s [...]

December 3, 2010 | 0 Comments More
UK household spending falls first time in 10 years

UK household spending falls first time in 10 years

The Office For National Statistics (ONS) has today revealed the extent to which the recession has had on UK households after spending fell for the first time in a decade. The data shows how households have been squeezed after spending was £455 in 2009, down from £471 in the previous year - the first fall [...]

November 30, 2010 | 0 Comments More
US Christmas shopping season kicks off

US Christmas shopping season kicks off

US retailers were hoping for buoyant sales this weekend after the start of the Christmas shopping season. The day after the Thanksgiving national holiday, known as Black Friday, sees stores open overnight and offer heavy discounting. While shopper numbers were up by 2.2% on Black Friday on last year’s numbers, sales were only up by [...]

November 28, 2010 | 0 Comments More
CBI reveals retailers fears for 2011

CBI reveals retailers fears for 2011

According to the latest Confederation of British Industry (CBI) distributive trades survey, retailers are optimistic about the Christmas period but have expressed their concerns for 2011. Many retailers share the same fear for next year as Government spending cuts kick in and the VAT rise takes effect on 1 January. The CBI’s survey established that [...]

November 25, 2010 | 0 Comments More