LONDON (MNI) – Retailers reported a slight rise in sales volumes in
the year to September, along with the expectation that growth will
strengthen somewhat next month, the CBI said Wednesday.
In the CBI’s latest Distributive Monthly Trade Survey, covering the
first two weeks in September, 33% of retailers reported that sales
volumes were up on a year ago, while 27% reported that sales had fallen.
The resulting balance of +6 was in line with analyst expectations.
The data was also an improvement on last month’s weaker
performance.
“Its encouraging that sales on the highstreet have seen a slight
rise in the year to September and that retailers expect sales to pick up
further nest month. However, while the squeeze on family budgets may
have eased in the short-term thanks to the fall in inflation, ongoing
economic fragility, reflecting the uncertainty of the international
outlook, could effect household spending later in the year,” Judith
McKenna, head of the CBI’s Distributive Trades Panel and Asda
Chief operating Officer said.
— London newsroom: 207 862 4799; e-mail: ukeditorial@marketnews.com
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