Welcome to the LDC Mid-Year Report 2009. In the middle of a deep recession you could be forgiven for scrabbling around to find anything but bad news in the retail sector but strong June retail sales figures gave a boost to those who see recovery around the next corner.
A heat wave and a new round of sales brought shoppers out in June. An increase in retail sales volume of 2.9% over June 2008, the largest annual gain since December, was way above expectations and could set the scene for a stronger than expected second half of the year. However this has to be balanced against continued rises in unemployment and therefore less spending power overall.
This report looks at the real impact of the recession on town centres. In particular it looks at the primary manifestation of recession – vacancy.
