Spending in the Sunshine!

You can’t switch on the T.V or open a newspaper, without being faced with the doom and gloom of recession; unemployment is at an all time high, house prices are falling and the word ‘depression’ keeps jumping off the page. However, recent reports revealing that retail sales increased by nearly 5% in June, indicates that there is light at the end of the tunnel.

The retail sector has been badly effected by redundancy, job insecurity and rising unemployment, as shoppers cut back spending on ‘non essential’ items. The slump in sales led to many large corporations – including the British institution of Woolworths – closing their doors for the final time. So why the increase?

According to the London Retail Consortium, the increase was in part the result of June’s heat wave. As more Londoners were out on the street, all important footfall increased, so more buyers were actually in the shops looking for that all important summer wardrobe.

In the light of increased retail spending, it would very interesting to have a look at June’s sales figures of Pubs and restaurants across the capital!