Retailers may have turned a corner as high street sales are up for the third month running.
The Distributive Trades Survey of 20,000 company outlets carried out by the Confederation of British Industry (CBI) reveals that 60 per cent of retailers saw the volume of sales rise during September.
A total of 11 per cent of respondents saw sales fall, resulting in balance of +49 per cent which compares with a figure of +39 per cent last month.
The increase is also reflected in the volume of orders placed upon suppliers (+39 per cent), surpassing last month’s balance of +29 per cent. The CBI says that retailers in footwear, furniture and carpets have seen a particularly strong surge in sales.
Ian McCafferty, CBI chief economic advisor, says: ‘The bank holiday weekend, combined with the tail-end of summer sales have resulted in a bumper period for retailers.’
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