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News & Blog

British Chambers of Commerce: Consumer-led growth demonstrates unbalanced nature of our economic recovery

Posted: 24th March 2016
  • Retail sales volumes in February 2016 were -0.4% on the month, but up 3.8% on the year
  • Average store prices fell by 2.5% in February 2016, compared with February 2015

 Commenting on the retail sales figures for February 2016, published today by the ONS, David Kern, BCC Chief Economist, said:

“Despite the small monthly decline, longer-term comparisons show strong growth in retail sales. This consumer-led growth demonstrates the unbalanced nature of our economic recovery. While a vibrant consumer sector is important, in order to secure our economic future the UK needs to seek more balanced growth. More must be done to boost other areas of our economy, such as exports and investment.”

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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