Autumnal boost to high street sales
Retail sales grew at their fastest pace in more than a year as shoppers pounded the high street for autumn clothes after an unseasonably warm end to the summer, a survey has found.
The Confederation of British Industry (CBI) monthly Distributive Trades Survey of 126 firms showed above-average sales for the time of year, with 40% of retailers reporting increased sales volumes in October on a year ago and 19% saying they were down.
The figures gave a balance of +21%, well above expectations of +7% and an improvement on the previous month's balance of -8%.
The expected sales balance for November also rose sharply to +21% from +7%, a level last seen in December, and orders placed with suppliers were the strongest since March.