High street sales up in first part of November Go compare with our comparison table

High street sales up in first part of November

26 November 2010 / by Paul Dicken

High street sales have been higher in the first part of November than in the same period in 2009, the Confederation of British Industry has said.

The CBI latest quarterly Distributive Trades survey, published on 25 November, showed 55 per cent of retailers saw the volume of sales rise in the two weeks to 10 November, while just 13 per cent said they fell.

The surveys balance was +43 per cent, up on a positive balance of 36 per cent in October. Grocers and clothing retailers saw the strongest growth in sales, with the three-monthly average of high street sales volumes moving up a balance of +43 per cent.

National statistics data for the third quarter of 2010, published on 24 November, said year on year output in the services sector grew 2.5 per cent compared to September 2009 data.

Industries classed as distribution rose 1.8 per cent, driven by retail which increased 2.4 per cent in September 2010 compared to 2009.

Ian McCafferty, CBI chief economic adviser, said: “High street sales growth held up well in November, and retailers are hopeful that the run-up to Christmas will be just as strong. However, looking into the New Year, retail sales growth may lose some of its sparkle, as consumers rein in spending after Christmas.”

McCafferty confidence remained fragile with the VAT rise in January, weak wage growth and high inflation likely to affect spending.

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