UK high street sales on upward trend
UK high street retailers saw year-on-year sales improve for the third consecutive month during November, according to the latest results from British business organisation CBI.
UK high street retailers saw year-on-year sales improve for the third consecutive month during November, according to the latest results from British business organisation CBI.
During the first two weeks in November, year-on-year growth in retail sales volumes continued on an upward growth trend, with 49 per cent of retailers reporting an increase in their volume of sales compared to a year ago.
"This months' survey is reason to be cheerful as we head into the festive period. Retailers across the board will be heartened by these encouraging results. The increase in employment, along with expectations for improvement in the business situation over the next quarter, point to a welcome boost to the sector," said Anna Leach, head of economic analysis at CBI.
Despite the positive news, retailers considered the volume of sales to be below normal for the time of year. As a result, retailers continue to be cautious in their overall outlook, in line with CBI's prediction for growth to slow down slightly in December.
