Surprise rise in UK retail sales
December 18th, 2008 | 
Author: The official figures have come as something of a surprise - UK retail sales rose unexpectedly last month, official figures have shown.
Total sales volumes climbed 0.3% in November from the previous month, the Office for National Statistics said. Sales were up 1.5% from a year ago.
See the BBC News website for the full story.
I think the big issue not addressed in this feature is profit margins. Given the high level of discounting many retailers will be reporting very low profits.
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Even so it’s good news (want to talk ourselves out of the downturn). At a later date, though, going to have to learn how to live within means (banks and ordinary individuals).
[...] As I said in December, the underlying profits are the key issue. [...]