• U.K. retail sales growth strongest since November 2012: CBI

Market news

28 August 2013

U.K. retail sales growth strongest since November 2012: CBI

U.K. retail sales volume grew at the strongest pace since November 2012, the Distributive Trades Survey results from the Confederation of British Industry showed Wednesday.

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.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.