2013 set to be 'another tough year' for retailers

An economist has predicted that 2013 will be a tough year for retailers, in reaction to the latest retail figures.

Samuel Tombs, UK economist at Capital Economics, said:

Admittedly, the weakness of the official figures stands in contrast to the relatively upbeat tone of the retail surveys, suggesting that the former should not necessarily be treated as gospel.

Nonetheless, 2013 still looks set to be another tough year for retailers, given the likelihood of a further significant squeeze on real pay and a weaker jobs market.

– Samuel Tombs, UK economist at Capital Economics

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