Deloitte comments on latest ONS retail sales data
18 July 2013
Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said: “Today’s figures will provide retailers with confidence. Last June’s strong sales were boosted by the Queen’s Jubilee celebrations, making this strong year-on-year increase all the more impressive. The weather will have lifted consumers’ spirits and willingness to spend, as will a recent series of positive economic indicators including increased housing activity, stable inflation and a small rise in lending. Whilst the sound of sleigh bells is still some way off, figures are beginning to point in the right direction for the all-important golden quarter.
“Nevertheless, the UK retail sector continues to serve a two-speed economy. Early indications from our latest Deloitte Consumer Tracker due out next week, show consumers in London are more confident about their disposable income, whilst those in other parts of the UK remain a little more squeezed.
“We are still at the start of a long road to recovery as people remain hesitant to spend. However, our recent CFO survey revealed business optimism in the UK rose for a fourth consecutive quarter. Retailers will be hoping this positivity drips through to the consumer sector.”
Notes to editors
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