UK DATA: CBI Oct Retail Reported Sales Surge; Highest Since June
–UK CBI Distributive Trades: Oct Reported Sales Vols 30% Vs 6% Sep
–UK CBI: Nov Expected Sales Balance 27% Vs +15% For Oct
–UK CBI: Oct reported orders volume balance +4% vs +2% Sep
–UK CBI: Nov expected orders volume balance 0% vs -2% Oct
–UK CBI: Oct volume of sales 3m moving average +11% vs +5% Sep
–UK CBI: Oct reported sales balance highest since June
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There was a sharp rise in Oct in the balance of retailers reporting
higher sales volumes on the year, with the outturns in the CBI survey
far exceeding analysts’ expectations. The headline CBI October reported
sales volume balance spiked to 30 from 6 in September, hitting its
highest level since June. Analysts’ median forecast was for a reported
sales balance of 6, unchanged from Sep.