LONDON (AFX) - The rapid growth in retail sales slowed dramatically in October but should stabilize over November, according to the Confederation of British Industry. In its latest distributive trades survey, the CBI said the net balance of retailers reporting increased sales volumes in October fell to +19 from +54 in September. The CBI, which last week called for a 50 basis point reduction because of the parlous state of manufacturing, remains fairly confident that sales growth will stabilize over the coming month. "Consumer spending has moved out of fifth gear but that does not mean it is heading for a standstill," said the survey's panel chairman and Boots director Alastair Eperon. He added that it is too soon to say whether sales growth will continue to slow over the long-term. "But with inflation prospects benign, the CBI's call for a meaningful rate cut is justified," he said. Eperon said anecdotal evidence suggests sales may have been affected by the decline in tourist trade from the US. An unusually warm October impacted on clothing sales, which turned negative for the first time for two years. When asked about how sales looked for the time of year, 24 pct said they were good, 52 pct said they were average and 24 pct said they were bad. This flat result compares with the plus 29 pct achieved in September.