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Economy in Brief

UK Retail Sales Accelerate 
by Robert Brusca October 18, 2007

UK retail sales are accelerating. The acceleration is real as the volume graph on the left shows. The table’s growth calculations show that upsurge has not been steadily building but is nonetheless across the main categories over the past three months with food sales leading the nominal acceleration part of that due to prices, no doubt. Clothing sales are accelerating too, but that is after a flat six-month growth rate, and to a growth rate marginally stronger than the 12-month rate. The surge in volume growth in the last three months is striking. In the quarter now complete sales volumes are up at a 7.1% annualized pace.

UK Real and Nominal Retail Sales
Nominal Sep-07 Aug-07 Jul-07 3-MO 6-MO 12-MO YrAGo
Retail Total 0.5% 0.9% -0.4% 4.1% 3.2% 4.6% 2.9%
Food Beverages & Tobacco 0.9% 1.8% -0.5% 8.8% 3.9% 3.6% 4.0%
Clothing footwear 0.6% 1.3% -0.4% 6.0% 0.0% 5.8% 2.1%
Real              
Retail Ex Auto 0.6% 0.7% 0.7% 7.9% 5.6% 6.2% 2.4%
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