Latest retail sales figures are better than expected

Reacting to figures released by the Office of National Statistics, Dr Brian Sloan, Chief Economist at Greater Manchester Chamber of Commerce, said: "The figures are better than expected and suggest that easing consumer price inflation, due to discounting, is encouraging consumers to increase spending, particularly for household goods.

"Whilst this will squeeze retailers’ margins it should have a wider positive effect by stimulating demand in supply chains. The figures also highlight the continued growth of online retailing, which has grown by 21.6% over the last year; food bought over the internet growing by 34.1% and household goods by 34.7%.

"Figures like these demonstrate the challenge to both the high street and retail parks as the sector undergoes evolution in the coming years. We must be acutely aware of the impact this may have given that the sector employs 538,000 people in the North West alone."