Rising housing market and falling unemployment encourages consumers’ to spend

Rising housing market and falling unemployment en...

Consumer confidence gathers pace after unemployment lowers

Also on KPMG.com

David McCorquodale, UK Head of Retail at KPMG, comments on the latest Retail Sales figures from the Office for National Statistics (ONS):

The ONS statistics indicate a better than expected performance by the retail sector in February, which is hopefully indicative that consumer confidence is gathering pace. The rapid recovery underway in the housing market and falling unemployment levels are undoubtedly feeding this under a swell of positive sentiment and delivering a boost to the retail industry."

“Some sectors fared worse than others however. Clothing sales weren’t helped by poor weather, but this is an in between month for fashion; retailers will be hoping that the forthcoming weeks bring better weather, which will help them to launch their spring offerings."

“The growth in the food sector reflected in the ONS statistics is a segment to keep a watchful eye on going forward, given that some grocers have highlighted that they will make substantial price cuts in the weeks ahead. There is a real chance this growth in the grocery sector might not be sustainable in the long term."

“Improving weather, and the arrival of Mother’s Day, should help retailers drive sales in March. Sentiment in the sector is overwhelmingly positive and if the overall economic recovery remains on track, so will consumers’ willingness to spend.”


- ENDS -


For press enquiries please contact:

Zoe Sheppard, PR Manager at KPMG

T: 0117 905 4337

M: 07770 737 994

E: zoe.sheppard@kpmg.co.uk   


KPMG Press Office: +44 (0) 207 694 8773    


About KPMG

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.


This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

Connect with us


Request for proposal



KPMG’s new-look website

KPMG’s new-look website