Wednesday, September 28, 2011

Retail Sales continue down

The CSO have just published the August update of the Retail Sales Index.  As is usual we will look at ‘core’ retail sales which strips out the effect of the motor trades, which make up 21% of the August Index. 

Core retail sales fell yet again in August as can be seen here.

Ex Motor Trades Index to August

Compared to July, retail were 0.8% lower by value and 0.5% lower by volume.  For the eight months so far this year there have been three months when retail sales have risen and five months when retail sales have fallen.

Monthly Change Ex Motor Trade Index to August

The annual comparison also deteriorated in August.  By value retail sales are 2.9% lower than they were a year ago; by volume they are 3.7% lower.  We have to go back to May 2010 to find the last instance when one of the measures was positive.

Annual Change Ex Motor Trade Index to August

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