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UK retailers record growth in October, according to CBI

In contrast to other, more pessimistic measures of the consumer economy, a business survey released on Thursday showed that British retail sales increased this month.

 

The monthly retail sales balance reported by the Confederation of British Industry increased from -20 in September to +18 in October.

 

Retailers continue to operate in a difficult environment due to rising costs, higher interest rates, and labour shortages, according to CBI economist Martin Sartorius. ‘Retail sales volumes recovered to grow at a firm pace this month, but retailers continue to face a challenging operating environment,’ he added.

 

53 retail chains responded to the study, which was conducted between September 27 and October 13.

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