Home > General Financial News > January business retail sales increase

January business retail sales increase

Published On 29 January 2007 at 15:54:05

Retail sales have increased at their fastest rate for more than two years this month, according to recently released figures.

Statistics from the Confederation of British Industry (CBI) found that 30 per cent more UK retailers noted a rise rather than a fall in sales compared to the same month a year earlier, beating December's previous two-year high by five points.

The traditional January sales appeared to be more popular than ever this year, with buyers eager to get hold of discounted items.

However, it remains to be seen how January's interest rate rise will impact upon spending.

"While shoppers have an appetite for the high street at the moment, and the prospects for February are promising, we have yet to see the full impact of recent interest rate rises on their resilience," remarked John Longworth, chairman of the CBI's survey panel.

Retailers remain optimistic, forecasting a plus 22 rating for February, the highest predicted figure since September 2004.

 

Related General Financial News:

• FSB criticises government policies on SME tax
  17 May 2007 at 11:17:06
  The Federation of Small Businesses (FSB) has slammed the government's taxation policy, saying that it harms small and medium-sized enterprises (SMEs) in the UK.
• Business leaders cautiously acknowledge rate rise
  10 May 2007 at 12:55:37
  Business leaders acknowledged that today's (May 10th) decision to increase interest rates by 0.25 per cent to 5.5 per cent was probably needed, but have urged caution in the future.
• SMEs 'throwing away free money'
  9 May 2007 at 16:19:56
  Small and medium-sized enterprises (SMEs) are still missing out on financially lucrative research and development (R&D) tax relief, KPMG has suggested.
• Business insolvencies fall
  9 May 2007 at 10:57:48
  Fewer companies - including small and medium-sized enterprises (SMEs) - went into liquidation in the first quarter of the year, new figures suggest.
• BCC: 'Keep up the good work MPC'
  8 May 2007 at 08:53:16
  Ahead of this week's interest decision, the British Chamber of Commerce (BCC) has praised what the Monetary Policy Committee (MPC) has achieved in the last decade.
• Regulator gets tough on financial SMEs
  16 April 2007 at 08:57:55
  A regulator which monitors the activity of firms working in the financial services sector has revealed that it plans to focus its attention on the UK's small and medium-sized enterprises (SMEs).
• Base Rate remains at 5.25 per cent for another month
  5 April 2007 at 13:00:04
  In a move which is likely to please small and medium-sized businesses with extensive borrowing, the Bank of England has announced that interest rates will remain unchanged in April.