Business Services Industry
Bank of England could blow whistle on runaway retail sales.
Knight Ridder/Tribune Business News, July, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Jul. 23--Retail spending got such a kick from the Euro 2004 championship that the Bank of England's monetary referees may soon blow the whistle.
Sales leapt 1.1 percent in June -- three times higher than predicted and fuelled by purchases of TV sets and football shirts. A 2.3 percent surge in household goods sales was the highest for 15 months.
The annual rise in summer spending is racing ahead at 7.2 percent and the guideline three-month rate is 6.9 percent -- the fastest for two years.
RBS economist Geoffrey Dicks rates an August rate rise from the Bank of land as "a done deal."
The sales spree is throwing up winners and losers. Electrical group Kesa is a...
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