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Retail sales rise in July
UK high street sales increased in July compared to the same month last year, according to the latest CBI Distributive Trades Survey.
The survey revealed that 18% of retailers said that sales were lower than a year ago, 51% said they rose, giving a balance of +33%.
This compares with an expected figure of +11% based on survey findings last month, and was the highest balance since April 2007 (+44%).
"High street sales have performed well this month, with growth better than retailers predicted. Annual summer discounts and warm weather helped lift sales of clothing, while grocers and durable household goods retailers appear to have benefited from a World Cup boost to sales of food, drink and new televisions," said Lai Wah Co of the CBI.
"Retailers are optimistic that strong sales growth will continue next month, which is promising. We still expect the recovery in overall consumer spending to be fairly restrained, however, given concerns about the impact of public spending cuts and weak prospects for real take-home pay in the coming year."
Post Date: July 27th, 2010
The survey revealed that 18% of retailers said that sales were lower than a year ago, 51% said they rose, giving a balance of +33%.
This compares with an expected figure of +11% based on survey findings last month, and was the highest balance since April 2007 (+44%).
"High street sales have performed well this month, with growth better than retailers predicted. Annual summer discounts and warm weather helped lift sales of clothing, while grocers and durable household goods retailers appear to have benefited from a World Cup boost to sales of food, drink and new televisions," said Lai Wah Co of the CBI.
"Retailers are optimistic that strong sales growth will continue next month, which is promising. We still expect the recovery in overall consumer spending to be fairly restrained, however, given concerns about the impact of public spending cuts and weak prospects for real take-home pay in the coming year."
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Post Date: July 27th, 2010
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