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| Version 1 | Version 2 |
|---|---|
| UK retail sales see slow increase | UK retail sales see slow increase |
| (about 3 hours later) | |
| UK retail sales rose by just 0.3% between November and December, according to official figures. | |
| The rise in sales volumes in the run-up to Christmas was lower than expected, with analysts having predicted a rise of more than 1%. | The rise in sales volumes in the run-up to Christmas was lower than expected, with analysts having predicted a rise of more than 1%. |
| Rising prices were blamed for the slow increase, with prices increasing at their fastest rate in nine months. | Rising prices were blamed for the slow increase, with prices increasing at their fastest rate in nine months. |
| As a result retail sales by value were stronger in December, rising by 0.9% compared with November. | As a result retail sales by value were stronger in December, rising by 0.9% compared with November. |
| Consumers shouldn't be relied on to drive a strong economic recovery Vicky Redwood, UK economist, Capital Economics | Consumers shouldn't be relied on to drive a strong economic recovery Vicky Redwood, UK economist, Capital Economics |
| Sales by value were up 3.6% from December 2008. | Sales by value were up 3.6% from December 2008. |
| Economist said the figures, released by the Office for National Statistics, were disappointing given the positive reports from retailers over the festive period. | Economist said the figures, released by the Office for National Statistics, were disappointing given the positive reports from retailers over the festive period. |
| There was also concern that the increase in VAT, which came into effect in January, did little to boost sales in December. | There was also concern that the increase in VAT, which came into effect in January, did little to boost sales in December. |
| "Sales should have received at least some boost from consumers bringing forward spending ahead of the VAT rise," said Vicky Redwood, UK economist at Capital Economics. | "Sales should have received at least some boost from consumers bringing forward spending ahead of the VAT rise," said Vicky Redwood, UK economist at Capital Economics. |
| "Without this, sales would presumably have dropped. They are clearly a timely reminder that consumers shouldn't be relied on to drive a strong economic recovery." | "Without this, sales would presumably have dropped. They are clearly a timely reminder that consumers shouldn't be relied on to drive a strong economic recovery." |
| The biggest rise was seen in the amount of money spent on food - up 4.9% on a year earlier. Non-food spending was up 1.9%. | The biggest rise was seen in the amount of money spent on food - up 4.9% on a year earlier. Non-food spending was up 1.9%. |
| Online boost | Online boost |
| Separate figures released today showed that people have been increasingly turning to the internet for their Christmas shopping. | Separate figures released today showed that people have been increasingly turning to the internet for their Christmas shopping. |
| Figures from IMRG Capgemini showed that online retail sales hit £5.46bn in December, an increase of 17% compared with the same month the previous year and up 3.8% from November. | Figures from IMRG Capgemini showed that online retail sales hit £5.46bn in December, an increase of 17% compared with the same month the previous year and up 3.8% from November. |
| Gifts and accessories showed the biggest jump compared with the previous year. | Gifts and accessories showed the biggest jump compared with the previous year. |
| "2010 looks set to produce another year of strong results for e-retail, with demand expected to remain high as consumers habitually look online for best buys," said James Roper, chief executive of IMRG. | "2010 looks set to produce another year of strong results for e-retail, with demand expected to remain high as consumers habitually look online for best buys," said James Roper, chief executive of IMRG. |