RETAIL sales volumes fell in Scotland in the first quarter at a slower pace than in Great Britain as a whole,
official figures show.
And, against a backdrop of rising prices, the value of retail sales north of the Border grew by 0.5 per cent quarter-
on-quarter in the opening three months of 2017, the Scottish Government figures show. The value of retail sales in Great Britain as a whole was flat between the fourth quarter of last year and the first three months of 2017.
Retail sales volumes in Great Britain as a whole tumbled 1.4 per cent quarter-
on-quarter in the opening three months. They fell by a seasonally adjusted 0.4 per cent in Scotland.
Although Scotland outperformed Great Britain as a whole during the first quarter in terms of retail sales, the position north of the Border was relatively weaker on a year-on-year comparison.
Retail sales volumes in Scotland in the first quarter were up only 0.2 per cent on the same period of last year. In Great Britain as a whole, retail sales volumes were up 2.1 per cent year-on-year in the first quarter.
SRC director David Lonsdale said: “The improvement in the... total value of retail sales in the first quarter is encouraging at first glance, but it looks less rosy once falling shop prices are taken into account. Consumer spending faces headwinds in the months ahead as household budgets contend with rising overall inflation and increases in council taxes.”
Euan Murray, relationship director in Barclays’ corporate banking division, cited rising inflation and modest pay growth and added: “With...consumers planning to spend less on every category with the exception of grocery, it’s looking like it’s going to be an uphill battle for the high street.”
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