These results underline yet again the continuing squeeze on consumer spending and, contrary to the Bank of England's expectations, there is no sign of an upturn.
More Quotes from Kevin Hawkins:
While the growth in November was against a weak comparison in November 2004, it is better than many had expected and the lift out of negative territory is encouraging in itself.Kevin Hawkins
While most larger retailers have a broad spectrum of suppliers and are not unduly exposed to China, other retailers will be forced to look at sourcing from other low cost countries,
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The question now is whether some consumers will continue to stay away from central London and whether tourists will be deterred by the threat of further disruption,
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We keep asking the bank where they think this growth is going to come from. With people increasingly worried about rising household bills, unless there is some stimulus from the bank itself, we are not going to see any substantial growth.
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These results confirm unequivocally that retail price deflation continues, with price deflation across the board showing a month-on-month decline for the third time this year.
Kevin Hawkins
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