LONDON (MNI) – UK retail sales are continuing their upward trend
with strong year-on-year growth in the first half of December, according
to the latest Distributive Trades Survey from the Confederation of
British Industry.
The CBI said that the subsectors seeing strongest sales growth were
hardware, DIY, clothing and non-specialised retailing, such as
department stores and grocers.
CBI Chief Economic Adviser Ian McCafferty said: “Sales on the High
Street continue to grow strongly compared with a year ago, reflecting a
stronger crucial pre-Christmas trading period.”
“However, December’s strong survey balance is also likely to
capture spending being brought forward ahead of the January increase in
VAT. Indeed, retailers expect sales growth to lose some momentum in the
New Year. We remain cautious about prospects for the retail sector
further ahead given ongoing uncertainties over the resilience of
consumer spending”.
The CBI conducted the survey between Nov 25 and Dec 8.
–London newsroom: 00 44 20 7634 1655; email:
wwilkes@marketnews.com/dthomas@marketnews.com
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