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Retail sales slump in August
16/09/2011
In the UK retail sales fell by 0.2% which means that it is no better off than it was a year ago.
These were the results from official figures released recently. This came after retail sales growth was slowing down in July from 0.8% in June to 0.2%. This drop has been blamed partially on the August riots as many shops were forced to close but the impact the riots truly had on these figures has been difficult to measure.
The August riots which happened around England also caused many shops to close early to avoid members of staff being at risk of getting caught in the middle of the chaos so this meant that shopping hours were decreased which also caused sales to drop.
But, due to rising sales of items the total value of sales in August was up by 4.7% even though sales volume stayed the same.
The worst hit in retail sales was household goods stores which saw the biggest slump of 4.1% from August last year.
These figures show that we are buying less which is most likely due to more people being conscious about how much money they spend. With more people looking to find a way of getting some extra money, equity release plans could be the answer.
Homeowners aged 55 years and over can free up some funds from their home through equity release plans. This will allow them to help to invest in their grandchildren’s future, get those important repairs completed or simply top up their pension.
To find out more about how equity release plans can help get that extra needed money contact the right equity release to seek advice on what plan is right for you or how to lower your interest rate on existing borrowing.
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