3 January 2002, 14:29 UK's CBI says Dec year-on-year retail sales growth highest since 1987
LONDON (AFX) - Retailers enjoyed a bumper start to the crucial
Christmas period, with year-on-year sales growth in the first two weeks
of December the strongest since 1987, according to the the
Confederation of British Industry.
In its latest distributive trades survey, the CBI said the net
balance of retailers reporting increased sales volumes in November rose
to +48 from +29 in November and against an expected balance of +30.
Those sectors doing particularly well include hardware, china and
DIY. Grocers, specialist food and clothes shops also did well but
booksellers and stationers, furniture and carpet stores and those
selling footwear and leather goods fared less well and reported lower
increases compared with last year.
The survey's panel chairman and Boots director Alastair Eperon said
the "significant increase" was "very encouraging" and added that it is
vital that consumer spending remains strong when other parts of the
economy are so weak.
"If the retail sector can maintain this position it will provide
underlying strength to the UK economy as we go into the New Year," he
said.
Though year-on-year sales growth was strong in December and the
three-month moving average around the levels seen last spring, the CBI
warned that sales volumes are likely to increase at a far slower
year-on-year rate in January.
Results of the December distributive trades survey are shown below.
Figures are expressed in percentage points and show the balance of
positive responses net of negative ones.
© 1999-2024 Forex EuroClub
All rights reserved