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Surge in spending as fortunes change

Surge in spending  as fortunes change

Scotland’s improving economic fortunes were reflected in official sales figures published yesterday.

The Scottish Government said stores sold 1.1% more by volume during the third quarter of 2013, compared with the previous three months.

On an annual basis, comparing the latest quarter to the same period a year earlier, retail sales volumes grew by 2%.

Without adjusting for inflation, the value of Scottish retail sales grew by 1.2% during the third quarter of 2013 and by 3.3% year-on-year. UK retail sales volumes were up by 1.6% over the quarter and by 2.7% year-on-year, while UK sales by value, using the same comparative benchmarks, were up by 1.8% and 4.2% respectively.

Euan Murray, relationship director at Barclays Corporate Banking in Scotland, said: “These positive figures reflect a strong summer for food, drink and clothing sales.

“Scotland has also enjoyed an increased level of tourist visits this year, leading to a surge in spending across the country.

“These highlights, allied with the recent news that the UK’s GDP has grown at its fastest pace in more than three years, will give retailers further confidence as we move into the critical Christmas trading period.”