Brendan Keenan: Don't buy blindly into confidence surveys
The feelgood factor reflected in consumer confidence surveys doesn't necessarily translate into purchases
Published 02/09/2012 | 05:00
ALL this, and the weather too. We may expect a plague of locusts next (there is already a infestation of Portuguese men o'war), but there is never a Moses around when you need one.
One can almost chart the dismal weather in the figures for retail sales. The awful June coincided with a 1.7 per cent drop in shopping. This mostly bounced back in July. The weather was a bit better, or maybe people had delayed purchases long enough. I wouldn't hold out much hope for August.
Things are so marginal for retailers that the lousy summer could be expensive in terms of jobs. For many shops, left with unsold summer stock or having to flog it off cheap, the weather in 2012 could be the last, sodden straw.