| You are in: UK: Scotland | |||||||||||||||||||||||||||||||||||||||
| Wednesday, 12 December, 2001, 14:10 GMT Christmas cheer for Scots shops ![]() Gloomy predictions have failed to materialise Scottish retailers have experienced a record month in the run-up to Christmas, according to figures. Sales for November were up 8% on the same month last year, statistics from the Scottish Retail Consortium and the Royal Bank of Scotland have revealed. Analysts believe that the downturn in spending on travel following the terrorist attacks on the United States has been diverted into high street sales. Consumers are also taking advantage of the lowest interest rates for 40 years.
Food sales grew at their fastest rate since May as people began stocking up for the festive period, according to the Scottish retail monitor. There were also strong performances from women's and men's clothing and leisure goods like DVD titles and Playstation 2 games. The figures follow a 7.9% increase in sales in October. Spending in Scotland is continuing to lag behind the rest of the UK - although the November figures saw the gap narrow. Scottish Retail Consortium director Patrick Browne said that rising consumer confidence had been prompted by low interest rates and high levels of employment. He said: "The retail sales figures for the last two months have been the best ever recorded by the sales monitor over the last three years.
He hoped that the trend would continue for the next few months. Jeremy Peat, group chief economist at the Royal Bank of Scotland, said: "Scotland is heading for a buoyant Christmas trading period which should extend well into the New Year. "Scottish retail sales continue to go from strength to strength with food sales putting in their best performance since May. "Low prices, a fall in interest rates and a diversion from travel into shopping have all led to a strong growth in sales." |
See also: Internet links: The BBC is not responsible for the content of external internet sites Top Scotland stories now: Links to more Scotland stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||
Links to more Scotland stories |
| ^^ Back to top News Front Page | World | UK | UK Politics | Business | Sci/Tech | Health | Education | Entertainment | Talking Point | In Depth | AudioVideo ---------------------------------------------------------------------------------- To BBC Sport>> | To BBC Weather>> ---------------------------------------------------------------------------------- © MMIII|News Sources|Privacy | ||