Survey Suggests UK High Street Retail Sales Are Strong

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27th September 2013 11:41 - Retail

According to a recently published CBI survey, high street sales have grown at their fastest pace for more than a year in September – a further sign of recovery in the retail sector. The survey found almost half (46%) of firms reported sales volumes were up on a year ago while a tenth (12%) said they were down, giving a positive balance of a third (34%) - the strongest since June 2012.

Rises were most marked among furniture and carpet retailers, department stores and recreational goods, while grocers also saw growth - although it was slower than in the previous month.

Predictions suggest that sales volumes are to continue to grow at a similar pace next month, with a positive balance, just short of a third (31%).

Barry Williams, Asda's Chief Merchandising Officer for Food and Chair of the Survey Panel, said:

"It's encouraging to see the high street on the road to recovery.  But the retail sector is not out of the woods yet, with consumer confidence still fragile despite the rise in spending."

While, Samuel Tombs of consultancy Capital Economics, said:

“For now, rising consumer confidence and employment seem to be offsetting the adverse impact of further falls in consumers' real pay on retail spending."

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