–Adds Detail To Version Transmitted At 1100 GMT
–UK CBI Distributive Trades: Nov Sales Vol Balance +43% vs +36% Oct
–CBI: Dec Expected Sales Balance +45% vs +43% for Nov
–CBI: Nov Orders Volume Balance +33% vs +30% Oct
–CBI: Nov Quarterly Business Situation +11% vs +22 in Aug
–CBI: Nov Quarterrly Avg Selling Prices Expected +42 vs +66 Aug
–CBI: Nov Quarterly Employment Reported -5 vs -1 in Aug
LONDON (MNI) – UK retail sales growth held up in November, with the
monthly sales volume balance picking up a little from October, and with
the expectations balance for December a bit higher still, according to
the Confederation of British Industry’s November survey.
The quarterly November survey showed some patches of weakness, with
the reported employment balance falling and with a decline in average
expected selling prices.
The data suggest retail sales growth, while holding up in the
fourth quarter, may ease in the New Year,
“High street sales growth held up well in November and retailers
are hopeful that the run up to Christmas will be just as strong,” Ian
McCafferty, the CBI’s chief economic adviser said.
“However, looking into the new year retail sales growth may lose
some of its sparkle,” he added.
The survey was conducted between Oct 28 and Nov 10.
The November monthly sales volume balance came in at 43%, up from
36% in October and the expected sales balance for December rose to 45%
from 43%.
The November monthly orders balance rose to 33% from 30%.
The quarterly balances, however, highlighted the uncertainty ahead.
The quarterly business situation balance in November fell to 11%
from 22% in the previous quarterly report in August and average expected
selling prices fell to 42% from 66% .
The November quarterly employment balance fell further into
negative territory, at -5% compared to -1% in August.
— London newsroom: 00 44 20 7862 7491; e-mail: drobinson@marketnews.com
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