September 27, 2012

British retail sales post marginal increase in September 2012

Retail sales in Britain have increased marginally for the month of September 2012, said a survey according to the Confederation of British Industry (CBI).

By admin-demo

Retail sales in Britain have increased marginally for the month of September 2012, said a survey according to the Confederation of British Industry (CBI).

The CBI distributive trades survey’s sales balance rose to +6 for the month as against -3 reported in August; analyst had projected a rise of +5 only, reported Reuters.

The numbers for October also look good, with the survey forecasting a sales balance of +15.

According to the survey supermarkets, shoe shops and chemists registered a strong improvement of sales, while retailers selling recreational goods and hardware alongside DIY stores continue to lag behind.

The national statistical data office said last week that the British retail sales volumes rose by 0.6% in the three months to August while overall demand remains sluggish as wage growth lags behind inflation.

CBI retail panel chairwoman and COO of Asda Judith McKenna remarked, "While the squeeze on family budgets may have eased in the short-term thanks to the fall in inflation, ongoing economic fragility, reflecting uncertainty around the international outlook, could affect household spending later in the year."

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