Post-Christmas sales prompt double-dip fears

26 January, 2012

Retail sales suffered their biggest annual fall in nearly three years this month as shoppers tightened their purse strings post-Christmas.

The Confederation of British Industry (CBI) distributive trades survey’s balance for reported sales volumes plunged to -22 in January from +9 in December, its lowest level since March 2009, when Britain was last in recession.

The figures came a day after official data showed the economy contracted by 0.2% in the last three months of 2011, raising fears that the country was entering recession – and its first double-dip since the 1970s.

Chris Williamson, chief economist at Markit, said: “Today’s CBI distributive trades survey provides the first glimpse of retail conditions in January, and confirm fears that consumers retrenched after a mini spending spree in December. Aggressive discounting helped push up sales in the run-up to Christmas, but the New Year has started with something of a hangover on the high street.”

Site Search


    Insights from the Bakery Market Report 2016

    You can now purchase the Bakery Market Report 2016, which offers insight into the retail bakery trade in the UK.