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Retail sales show slight increase

Date Added: 21/01/2013  

Retail companies may still need to take business debt advice in order to avoid the threat of a winding up order, new figures from the Office for National Statistics (ONS) has revealed.

Data unveiled by the body showed that there was a slight rise in retail sales during December 2012, but the increase is unlikely to result in a significant boost to the economy.

It was noted by the ONS that year-on-year estimates of retail sales volumes continued to show upward movements, but the organisation stressed that the strength of this movement was weaker than in previous months.

Compared with December 2011, the ONS revealed that the quantity of goods bought - all retailing seasonally adjusted sales volumes - in December 2012 was estimated to have increased by 0.3 per cent.

"Between the same periods the amount spent - all retailing seasonally adjusted sales values - was estimated to have increased by 0.7 per cent," it said.

The ONS pointed out the 0.3 per cent year-on-year increase in the quantity bought was the lowest year-on-year growth for the month of December since 1998 (-0.4 per cent), apart from in 2010, when harsh winter weather had a major impact on the health of the retail sector.

Online sales have been making the news recently as a result of high street companies such as HMV and Blockbuster going into administration, but the ONS noted that in December 2012, "the proportion of sales made online fell at a slower rate between November and December than seen in previous years and were 1.2 per cent higher compared with December 2011".

The ONS also stated that the estimated weekly spend across all retailing was £8.5 billion in December 2012, which is only slightly up on the data for the previous year, which recorded a total of £8.4 billion.

Thousands of retail jobs are expected to be lost in the UK due to HMV, Blockbuster and Jessops all going into administration this month.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Julie Cutts

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