Web links for 7th December 2011
BRC “Retail Sales Monitor” reports that retail sales values for November were 1.6% lower on a like-for-like basis from twelve months previously. More expensive homewares and furniture were hardest hit. “Consumers are not quite in the Christmas mindset yet,” reports the Consortium – not a surprise!
Felicity Burch on the EEF blog has an excellent concise post on the risk of a ‘lost decade’. If we are to avoid that fate investment and exports must grow. This has happened in previous recoveries but, she points out, the shortage of credit and uncertainty about the Eurozone make things more difficult this time: “When cashflow is weak, credit is constrained, and the economic outlook is uncertain, there are bound to be question marks over investment decisions.”
The REC’s monthly “Report on Jobs” is “grim reading” says co-publisher KPMG, which hints unemployment may peak at over 3 million. Their pessimism is prompted by their latest survey of recruitment agencies, which shows a jobs market that “has been slowing since May but this slowdown has accelerated in the autumn.” Permanent placements by agencies fell for the second month running in November, and the rate of decline was the steepest since July 2009. Temporary placements continued a 28 month rise, but the pace of growth was “only slight.”