SME NewsRetail Sales Growth Slowdown
Does retail sales slowdown presage recession in 2008?
Data released today by the Office of National Statistics reveals a slowdown in the growth of retail sales during the last quarter of 2007.
The seasonally adjusted index for retail sales grew by just 0.4% during the three months to December 2007 compared to the previous three month period. Between November and December, however, the volume of sales fell by 0.4%.
A separate study released yesterday by Experian revealed that only a couple of weeks into the January sales its Retail Footfall Index had seen a week-on-week decrease of 4.4%.
What does all this really mean for the small business owner, particularly the small retailer. Well, slowly but surely signs of a slow down are gathering. But let’s just hope it’s just that – a slow down, not a recession.
Here’s to some justified caution amongst small businesses and consumers during 2008.
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