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Retail Slowdown Brings Recession Closer
20/09/2011
Statistics recently published by the British Retail Consortium show that non-food sales have dropped by 0.6% compared with those recorded in August 2010. Total sales grew 1.5%, however this time last year this growth was at 2.8% (despite the increase in VAT from 15% to 20%).
Food sales growth was similar to last month.
Helen Dickinson, head of retail at accountancy firm KPMG, which helped compile the survey, added: 'The weaker sectors are really struggling. For non-food, the picture is disheartening with one of the worst monthly results of the year thus far.'
Homeowners aged over 55 years who are concerned about another recession and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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