Feb 19, 2017 08:12 PM EST
Retail spending in the UK saw a 1.5 percent growth year-on-year in January 2017 compared with January 2016, the lowest growth the sector has had since November 2013, according to the latest official figures of the Office of National Statistics (ONS).
The country's monthly retail turnover, however, showed a drop in its January sales of 0.3 percent compared to the previous month. Its underlying pattern as suggested by the three-month on three-month movement decreased by 0.4 percent; which is its first drop since December 2013.
The ONS data showed average store prices, including fuel, has seen an increase of 1.9 percent on the year, the largest contribution of the increase was said to have come from petrol stations, where year-on-year average prices were estimated to have increased by 16.1 percent.
Online sales, excluding fuel, has seen an increase of 10.1 percent year-on-year, but fell on the month by 7.2 percent, which accounts for approximately 14.6 percent of all retail spending.
Kate Davies, ONS senior statistician, said the three months to January, retail sales had seen the first signs of a fall in the underlying trend since December 2013.
"We have seen falls in month-on-month seasonally adjusted retail sales, both in conventional stores and online, and the evidence suggests that increased prices in fuel and food are significant factors in this slowdown," Davies said.
According to ONS, looking at the amount spent, there was growth in the sector compared to the same period the previous year and in the three-month on three-month series. There was no growth on the month.
ONS data also revealed the fall in the quantity bought in the three months to January 2017 showed a continued upwards trend which was experienced in retail sales since December 2013. The data has coincided with the rise in prices following a period of steady decline. While petrol prices continue to be the main contributor to increased prices, there was also an increase in food prices on the month in January 2017.
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.
If you think that the micro accounts are useful only for beginners who may not be able to cope with the fast dynamics of changing quotes on trading platforms, then this is not so. Professionalism grows out of these cent accounts.
Journalists love their jobs because they get to interact with people from all sorts of backgrounds and expertises, then turn around and share their knowledge with the world.
As the metaverse takes over more of our digital lives, the commoditization of all aspects of our virtual beings becomes more and more of a reality.
Rustam Gilfanov is a famous IT businessman, a founder of a large IT company, and a partner of the LongeVC Fund.