Because of the way the ONS does its stats, which seriously benefits the government at present, the true scale of this crisis is not apparent as yet. But for those thinking 2021 is going to be a bonanza, think again. It won’t be.
The reason for saying that is straightforward. When people fear redundancy they do not spend. Many in the private sector will have that fear. And Sunak is already offering austerity. Job cuts in the state sector will follow. No one turns on the spending taps in that scenario.
We are in trouble. And it can only get worse.
Well, OK, maybe:
In September 2020, retail sales volumes increased by 1.5% from August. This was the fifth consecutive month of growth in the industry from May to September 2020, resulting in an increase of 5.5% in volume sales when compared with the pre-pandemic levels in February 2020.
That rarity from Spud, a testable proposition.
Your over and under on retail sales growth/shrinkage for 2021 over 2019 then?