IMA unsure of recovery strength

The IMA today warns that it is too early to be sure of a recovery in the industry, despite its most recent figures showing a healthy increase in both month-on-month and year-on-year sales. Net industry sales hit £1.5bn in June, a whopping 69% increase on May, and up more than 150% compared to the same month last year. Net retail sales were up 45% compared to June 2002. However, IMA head of communications Clare Arber warns that the recovery in sales is not to be taken for granted. "We may not see investors returning to the stock market on the scale of earlier year...