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CBI says UK retail sales grew by more than expected in September

Clothing - British retail sales growth beat expectations - SantanderCB

A survey by the Confederation of British Industry has found that British retail sales growth beat expectations by a comfortable margin in September. The CBI distributive trades survey's retail sales balance rose to +49 last month - its highest since May. That was up from +24 in August and beat expectations for a +28 balance in a Reuters poll. Sales expectations for October were +51, the highest since June. Rain Newton-Smith, CBI director of economics, said: 'Low inflation and the recovery in wage growth are helping to stimulate consumer demand, but the slowdown in the global economy and tight margins mean retailers won't get ahead of themselves as we head into autumn.'

 

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