Retail Sales Are Up

Retail sales in January went up by 0.9% on those of December 2011 according to figures released today by the Office of National Statistics. We were told by someone on BBC Radio 4 at around noon today that we should not read too much into these figures as they would be subject to review and would most likely be downsized. Possibly the BBC will be proved right as original figures released by the Office of National Statistics on a multitude of things are often adjusted at a later stage - up as well as down. The BBC did not of course mention that the retail sales figures might be found after review to have been understated as that would not fit in with their pro Labour bias. Maybe though, just maybe, the economy is slowly but surely beginning to turn up. It is not evidence of such hoped for improvement but it is nonetheless interesting that a relative of mine who owns a jewellery shop in Tunbridge Wells has told me that sales last year were marginally up on 2010, sales in January were up on January 2011 and so far this month sales are also up on the same period last February. My relative sells stock bought in from third parties as well as jewellery that he manufactures to order or for stock. The reason given by my relative for this welcome upturn in trade is that a few of his customers have said that they had recently inherited some money and wanted to buy jewellery or a watch or some other item as a result. Tunbridge Wells is one of those places where you retire to it's true and it's nice to know that there is a healthy death rate amongst the elderly well to do but not every beneficiary can be relied on to buy from my relative, more's the pity. Tunbridge Wells is though also home to commuters engaged successfully in the financial services sector and I know a number of them are customers of this jewellery shop. The reason for the retail sales figures having gone up in January is being put down to the discounts on offer. No discounts are on offer though in my relative's shop.