London sales growth slips over May
Jun 15 2009
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London experienced the weakest sales growth in 2009 during May, according to figures from the British Retail Consortium (BRC).
The organisation's monthly monitor shows that like-for-like retail sales growth in central London fell from 8.5 per cent in May 2008 to 1.6 per cent this year.
Stephen Robertson, director general of the BRC, explains that May last year saw a 'dramatic improvement in the weather', which explains its stronger performance.
However, he also notes that the capital's retailers outperformed the rest of the country, achieving like-for-like sales growth of 4.1 per cent for March to May, compared to the 0.7 per cent UK average.
Robertson adds that London benefitted from the weak pound attracting overseas visitors, although those from western Europe displayed some caution in their spending.
Helen Dickinson, head of retail at professional services provider KPMG, which co-authored the report, notes that last May was one of the strongest months in 2008, which contributes to this year's figures looking 'disappointing'.
Earlier this month, the BRC revealed that UK like-for-like sales values fell by 0.8 per cent in May, when compared to last year.
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