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BCC: Consumer-Led Growth Demonstrates Unbalanced Nature of our Economic Recovery

  • Retail sales volumes in February 2016 were -0.4% on the month, but up 3.8% on the year
  • Average store prices fell by 2.5% in February 2016, compared with February 2015

Commenting on the retail sales figures for February 2016, published today by the ONS, David Kern, BCC Chief Economist, said:

“Despite the small monthly decline, longer-term comparisons show strong growth in retail sales. This consumer-led growth demonstrates the unbalanced nature of our economic recovery. While a vibrant consumer sector is important, in order to secure our economic future the UK needs to seek more balanced growth. More must be done to boost other areas of our economy, such as exports and investment.”

Last modified on Thursday, 24 March 2016 11:29

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