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MNI: UK Sep Retail Sales Volume Growth Hits 2 Year High: CBI

MNI (London)
By David Robinson
     LONDON (MNI) - Retail sales growth accelerated at its fastest pace since
September 2015, according to the CBI Distributive Trades survey published
Tuesday.
     A net 42% of retailers reported a rise in sales volumes in the September
survey, up from a net -10% in August and a net 22% in July. The expected sales
volume balance for October was 23%, the highest reading since December 2016.
     The CBI monthly data are very volatile, and these showed a sharp rebound
after weak August sales. 
     The main drivers of growth in September were the grocery and clothing
sectors. The furniture and carpet sectors, dominated by big ticket sales,
reported a decline in sales in September as did drink stores and retailers of
recreational goods.
     "Is encouraging to see some vigour returning to the retail sector in
September, with sales growth picking up from August and consumer demand expected
to hold up reasonably well next month," Anna Leach, CBI Head of Economic
Intelligence, said.
     The official retail sales data showed strong 1.0% month-on-month growth in
August with 1.2% three monthly growth. The destruction of real earnings growth
due to subdued wage growth and a rise in inflation has not been translating
through in a straightforward way into the high frequency retail sales data.
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Data StoriesImpactDataPolicy NewsSpainCEEMEAEurozoneGermanyFranceItalyBank Of England (BOE) Market NewsUKRegion
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Data StoriesImpactDataPolicy NewsSpainCEEMEAEurozoneGermanyFranceItalyBank Of England (BOE) Market NewsUKRegion
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