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UK: The Retail Growth Continues To Slowdown
Jun 20, 2007

The United Kingdom government statistics have disclosed that faltering drink and food sales slowed down the development in August on high street.

The novice recovery made by the retail segment in the country in spring fell down in summer, amidst the monthly increase stagnating with 0.7% in June, 0.3% in July and 0.3 %, once again, in August.

Office of National Statistics (ONS) figures confirmed that the basic retail sales development went down to 1.5 % in August, downward from 1.9 % in July. However, an annual comparison through August 2005 indicated a 4.3 % improvement.

A monthly basis, showed food and drink a declining considerably the largest since Jan 2003, of 1.7 %.

Experts of the industry said that in addition to higher interest rates, the customers face high utility bills, reasonable earnings development, a growing tax burden, growing debt levels and severe pension concerns. Headwinds are projected to progressively overshadow the hold coming from large service and the currently buoyant home market.

Predictions of analysts on today's results impact on Bank of England's future interest rate rulings are in row with those served by different financial commentators, seeing the November rate hike before an extended period not including any additional changes.

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