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Get your free copy02 November 2012, 10:00 AM
- A survey carried out by the Confederation of British Industry has found that 47% of retailers reported increased sales in October compared to the same time in 2011
The economy grew by one percent between July and September, bolstering hopes that the UK may be beginning to come out of recession.
While 17% of retailers said October sales were down when compared to last year, the 30% increase was twice as good as expected and the strongest trading period since the Diamond Jubilee.
Anna Leach, head of economic analysis at the CBI, said, “It is great news that last month’s sales growth has continued into October, at a much faster pace than expected, and that this momentum is expected to continue next month too.
“But there’s still a risk that on-going uncertainty over the global economic outlook could dent consumer confidence, hitting prospects for the retail sector, while the scope for inflation to fall further is limited,” she added.
