Retail sales disappoint

Retail sales, April 2013: ONS

  • In April 2013 compared with March 2013, the quantity bought decreased by 1.3%, while the amount spent also decreased by 1.3%.
  • The largest source of downwards pressure came from the food sector, where, compared with March 2013, the quantity of goods bought decreased by 4.1%, which is the lowest since May 2011.
  • Over the same period the amount spent in the food sector decreased by 3.5%.
  • In April 2013, the quantity bought in the retail sector (or sales volumes) increased by 0.5% compared with April 2012. Over the same period, the amount spent in the retail sector (sales values) increased by 1.3%.
  • The main source of downwards pressure in both the quantity bought and the amount spent came from the food sector, where, compared with April 2012, the quantity of goods bought decreased by 3.8%, which is the lowest since June 2011. The amount spent decreased by 0.2%, which is the largest contraction on record.
  • The contraction in the quantity bought within the food sector leads to the level of goods bought in this sector falling to its lowest point since December 2003.
  • In April 2013, the overall proportion of non-seasonally adjusted online sales remained high at 10.0% reflecting feedback from large retailers, which suggested that during the continued cold weather consumers purchased from their online sites rather than in store

CPI: Inflation

Consumer Price Inflation, April 2013

The Consumer Prices Index (CPI) grew by 2.4% in the year to April 2013, down from 2.8% in March.

This is the first time that the growth in inflation has slowed since Autumn 2012. Over the last six months, the CPI 12-month rate has been particularly stable

Footfall on the increase

Footfall and vacancies monitor: BRC

  • Footfall in April was 1.0% higher than a year ago, an improvement on the 5.2% fall in March.
  • This is the strongest performance since December 2011 when footfall increased 5.7%.
  • High streets reported the greatest rise (3.4%), the strongest performance since December 2011, followed by out-of-town (0.3%).
  • The national town centre vacancy rate in the UK was 11.9% in April 2013, up from 10.9% in January 2013, the highest rate since the survey began in July 2011.
  • Footfall in shopping centres fell 3.0% in April, its worst performance since January 2013.

 

Crisis hits the poor hardest

Crisis hits the poor hardest: OECD

  • Income inequality increased by more in the first three years of the crisis to the end of 2010 than it had in the previous twelve years
  • The welfare state has cushioned the blow for many but warns that further social spending cuts in OECD countries risk causing greater inequality and poverty in the years ahead
  • The richest 10 per cent of the population in OECD countries earned 9.5 times the income of the poorest 10 per cent in 2010, up from 9 times in 2007