Retail sales grew at their fastest pace in two years in November, according to data released by the Confederation of British Industry (CBI).

The CBI's survey revealed that 40% of retailers said that their volume of sales in the year to November had risen, while 27% said they fell. The resulting balance of +13% reflects a second consecutive month of growth and is the highest balance since November 2007.

High street retailers are also expecting growth to pick up further in the run-up to Christmas, with a balance of 13% of firms expecting an improvement over the next three months. This is the first positive result since August 2007, and the strongest since May 2004.

"It's reassuring that the high street now has a second month of sales growth behind it, and it looks like December will be even better. A lot of retailers have suffered during 2009, and many are relieved that the year is ending on a more positive note," said Andy Clarke, Chairman of the CBI Distributive Trades Panel.