Business Services Industry
London Retailers Get Jittery in Anticipation of Interest Rate Hike.
Knight Ridder/Tribune Business News, June, 2002
Daily Mail, London Knight Ridder/Tribune Business News
Jun. 21--Disappointing trading from House of Fraser is adding to concerns that the High Street bubble is about to burst. Retailers are already getting jittery in anticipation of an interest rate hike and are quietly voicing fears that the boom is coming to an end.
The latest figures show May retail sales volumes fell 0.6 percent from April, the worst performance for two years and cutting the annual rise to 5.4 percent.
The picture is blurred by the Queen's Jubilee and lots of rain in May, which kept shoppers at home. An early Easter did not help. The World Cup may have dampened June sales.
"Is it a blip or a trend? That is the question," says Nick Bubb at SG.
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