|Retailers enjoy increased sales and improved economic conditions|
|Written by Richard Siddle|
|Tuesday, 30 October 2012 12:28|
Its monthly Distributive Trades survey, covering the first two and a half weeks of October, found that 47% of retailers said sales volumes were up on a year ago whilst 17% had seen sales fall.
Despite the second consecutive month of sales growth, high-street retailers still considered the volume of sales to be below average for the time of year (-7%).
Anna Leach, CBI Head of Economic Analysis, 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.
"Falling inflation has somewhat eased pressures on family budgets, so that households are a little more willing to spend. 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."
Wholesalers saw a slight fall in sales volumes on a year ago (-6%), despite expectations of modest growth (+6%), and sales are expected to continue falling in November (-6%).