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- U.K. retail sales growth strongest since November 2012: CBI
U.K. retail sales growth strongest since November 2012: CBI
According
to the survey, 49 percent of respondents reported that sales volumes were up on
a year ago, while 22 percent said they were down, giving a balance of +27
percent. The August's level exceeded the consensus of 20 percent.
Retailers
expect another similarly strong month of sales growth in September. The balance
for next month is seen at +26 percent.
Barry
Williams, Asda Chief Merchandising Officer for Food, and Chair of the CBI
Distributive Trades Survey Panel said, "The feel-good factor from the
heatwave, summer sales, royal baby fever and sporting victories has helped
boost the high street, with clothing retailers and grocers benefiting in
particular."
The survey
also found that employment in the sector grew at its fastest pace since May
2002 and is expected to grow firmly again next month.
Further,
retailers expect their overall business situation to improve over the next
three months to 20 percent, the highest figure in three years.
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