Report
from Lawrence Cutler, SDEA coordinated with Robert Hudson of NAS for the ISO
Congress, 28.04.07 2007:
Economic Report
The
The unemployment rate is 5.5 per
cent, up 0.4 over the year. The number
of unemployed people has increased by 151,000 over the year, to reach 1.69
million.
Interest rates have increased three
times since August reaching 5.25 per cent, with many forecasters expecting
another 0.25 per cent increase in the next month or two. This would take rates to a six-year high.
Meanwhile, inflation increased to
2.8 per cent in February after falling the month before from its 15-year high
of 3 per cent.
The
growth in retail sales volume remains robust with an increase of 4.7 per cent
in February over the same month in 2006.
Sales by food stores increased by 3.8 per cent over the year compared
with 4.8 per cent growth for non-food stores and 13 per cent for non-store
retailing, the highest growth for this sector since records began in 1986.
A
recent survey of sdea members revealed a level of confidence not seen for at
least two years. 42 per cent of
respondents reported an increase in business over the previous year with a
further 29 per cent indicating a similar turnover to the previous year. Looking ahead, 68 per cent are expecting
business to increase over the next 12 months with only 3 per cent forecasting a
downturn.
NAS
reports that shopfitters too are buoyant at present with projects such as
Terminal 5 at
A comment from the UK management committee member of ISO, Ronald Cohen of Foxbarn Ltd. added, what we of course all know, that even in good times, some companies does not survive, such as recently “Clairs (?)”, Timber taylor’s and more.
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