A third of UK Retailers announce a rise in sales from last year.
The Confederation of British Industry (also known as CBI) have said 33% of retailers reported that sales volumes were up on a year ago, and 27% stated that sales had fallen during the first two weeks of September.
On balance, sales rose around six per cent in the year to September, and with October approaching fast, retail expects sales to grow faster with an estimated increase of 15 per cent.
“It is encouraging that sales on the High Street have seen a slight rise in the year to September, and that retailers expect growth to pick up further next 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 uncertainty around the international outlook, could affect household spending later in the year.” Said Judith McKenna, Chair of the CBI Distributive Trades Panel and Asda Chief Operating Officer.
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