by Thu, 25 Nov 2010 12:12:00 +0100
UK: CBI Sales improve to +43 pts in November
FXstreet.com (Barcelona) - The CBI Distributive trades surveys has shown an improvement to 43 pts in November from the 36 pts posted in October in terms of realized sales in the United Kingdom. This number means the return above the 40 level for second time in 2010 after the October decline to 36 from 49 in September.
The 55% of the retailers has said that they volume of sales rise in the two weeks to November 10th. On the other hand, 13% of retailers say they fell.
“High street sales growth held up well in November, and retailers are hopeful that the run-up to Christmas will be just as strong, said Ian McCafferty, CBI Chief Economic Adviser. “Confidence remains fragile, VAT is rising in January, and a combination of weak wage growth and high inflation is eating into household incomes," McCafferty concluded.
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