Newspaper article The Evening Standard (London, England)
Capital's High Streets Buck Recession with an Increase in Sales
Byline: hugo duncan City Correspondent
Retail sales in london jumped last month as the capital shrugged off the recession blighting high streets elsewhere in Britain.
the British Retail Consortium today said sales in london in February were 5.9 per cent higher than they were a year ago compared with a 1.8 per cent decline across the country.
london stores benefited from european shoppers taking advantage of the weak pound as well as half-term visitors from elsewhere in the UK, although sales were held back in the first week of the month after heavy snow disrupted transport.
"london is proving slightly more resilient to recession than other parts of the UK," said BRC director general Stephen Robertson.
"Despite the recession and a poor start to February due to extreme snow the capital's retail sales outperformed the rest of the UK.
"london retailers benefited as the weak pound made shopping here more attractive for overseas visitors -- especially those from eurozone countries.
"Half-term also helped. More families opted to stay at home this year rather than go on foreign holidays.
Consumer confidence held up a bit better as london is proving slightly more resilient to recession than other parts of the UK. …