According to the latest figures from the Office for National Statistics (ONS) British retail sales growth rose at the highest rate for almost four years in the three months to May 2001.
In the period March to May the volume of sales recorded was 1.5% higher than for the previous 3 month period and 5.8% higher than the same period last year. The average weekly value of sales for May 2001 was £4,120 million which stands at 7.8% higher than May 2000. In March, the value of sales at current prices was 6.7% higher, year on year.
| |
|
Volume Index: seasonally |
year on year % change |
| |
|
adjusted (1995=100) |
Volume: seasonally adjusted |
Value: not seasonally adjusted |
| 2000 |
Dec |
123.4 |
+4.7 |
+5.5 |
| 2001 |
Jan |
124.1 |
+3.4 |
+3.0 |
| |
Feb |
124.8 |
+5.8 |
+5.3 |
| |
Mar |
125.2 |
+5.1 |
+5.8 |
| |
Apr |
125.9 |
+6.1 |
+6.5 |
| |
May |
127.0 |
+6.4 |
+7.8 |
Meanwhile in the US, analysts have been disappointed by growth in retail sales of just 0.1% in May 2001 leading to reports that the US economy is in a period of ‘stagnation’. Economists had predicted a rise of 0.3% and analysts will now be watching the figures closely for signs of improvement.
