Housing Recovery Improves Furniture Sales

More news from Dibben and Dibben - as reported in the UK press this week the recovery in the housing market drove sales of furniture and electrical items last month and helped retail sales rise by an unexpected 0.4 per cent, according to the latest official figures. The rise sent annual growth to its highest level for 14 months, according to the Office for National Statistics.

The recorded sales of household goods on a month-on-month basis soared to their highest level since August 2006, this is a reflection of a recent upturn in the UK property market. Food store sales have so far been resilient amid the recession, but ended a five-month run of increases last month with a 1% fall.

James Knightley, economist at ING Bank, said the figures were good news for the UK economy.

''The gains in retail sales give us greater confidence that gross domestic product will rise in the third quarter, meaning that the UK exits recession,'' he said.

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