UK: Retailers report November sales rally
A survey from the Confederation of British Industry (CBI) found that growth in retail sales in the UK rallied unexpectedly in November. The CBI’s quarterly Distributive Trades Survey found that 50% of retailers reported sales volumes up compared with a year ago. Retailers also placed more orders in November when compared with a year ago, a big improvement on October, where figures showed that growth was at its weakest in 2001.
Alastair Eperon, Director of retail chain Boots, said: "Stores are now hopeful that consumer spending in the run-up to Christmas will protect the retail sector from the severe slowdown already hitting the rest of the economy."
