September’s rise in retail sales volumes was a rare bright spot in an otherwise terrible set of consumer data released over the last month. Consumer confidence has remained at a very low level, inflation has surged and job losses have gathered pace – all point to further falls in real household spending which we continue to think will drop by 1.5% or so in 2012.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services