Sales Surge Renews Rates Concern; Stronger-Than-Expected Growth Contradicts Signs That Economy Is Slowing Down
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Summary
Predictions that interest rates may have peaked at 4.75% were being hurriedly revisited yesterday following news of stronger-than- expected growth in retail sales in September.
While many economists had predicted volumes would edge up 0.2%, official figures showed surging sales of non-food goods like carpets and mobile telephones fuelled by price-cutting led to overall growth of 1%.See the full content of this document
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Sales Surge Renews Rates Concern; Stronger-Than-Expected Growth Contradicts Signs That Economy Is Slowing Down
The data suggested consumers were still spending freely, despite five rises in borrowing costs in recent months, in contrast with recent signs of a slowdown in...
See the full content of this document
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