Snow Hits Shop Trade

The cold-snap in January, which cost Nottinghamshire and Derbyshire businesses an estimated £17.6m-a-day, contributed to a slump in retail sales, new figures show.

According to the Office for National Statistics, the total sales volume for January decreased by 1.8%, the largest decline since June 2008 when it was 2.5%.

Commenting on the figures, George Cowcher, chief executive of the Derbyshire and Nottinghamshire Chamber, said: "There can be no doubt that businesses were hit hard by the bad weather in January and this has contributed to such a steep decline in retail sales figures.

"With the local economy barely limping towards recovery, it is clear that local retailers are still facing difficulties and need more support to encourage growth.

"With the threat of a double-dip recession looming, it is crucial that the Bank of England doesn't scale down its £200bn Quantitative Easing programme, or to contemplate higher interest rates in the short-term. More must also be done to improve cashflow and accessibility to finance to help get the economy moving again."


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