Strong retail sales growth continues: CBI
- Year-on-year growth in retail sales volumes continued for a third consecutive month
- Volumes growth on the year is expected to decelerate slightly in December
- Retailers expect the business situation to improve over the next three months to the greatest extent in two years
- Strong rebound in year-on-year employment growth
First Retail Sales growth for 7 months but little cheer in December
- The CBI has published its latest monthly Distributive Trades Survey, which covers the first two weeks in December.
- 41% of companies said sales rose on a year ago in Decembe, 32% reported a fall, giving a balance of +9%.
- This was better than expected and the first year-on-year sales growth since May (+18%).
- However, volumes of sales were poor for the time of year with a balance of -16% well below the long-run average.