British retail sales grew the most in two years in September, the latest Distributive Trades survey from the Confederation of British Industry showed Wednesday.
The retail sales balance rose to 42 percent in September, the highest since September 2015, when the score was 49 percent. A balance of 23 percent expect sales volume to increase next month.
Further, survey showed that a net 12 percent placed more orders with suppliers in September. Orders are forecast to grow at a slower pace next month.
“It’s 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.
“But inflation continues to squeeze household budgets, and with the pressure on incomes set to persist, retailers will continue to face a challenging environment.”
Source: RTT News