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By
Reuters
Published
Sep 29, 2015
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UK retail sales grow by more than expected in September

By
Reuters
Published
Sep 29, 2015

British retail sales growth beat expectations this month by a comfortable margin, a survey by the Confederation of British Industry showed on Tuesday.


The CBI distributive trades survey's retail sales balance rose to +49 in September - its highest since May. That was up from +24 in August and beat expectations for a +28 balance in a Reuters poll.

Sales expectations for October were +51, its highest since June.

"Low inflation and the recovery in wage growth are helping to stimulate consumer demand, but the slowdown in the global economy and tight margins mean retailers won’t get ahead of themselves as we head into autumn," Rain Newton-Smith, CBI director of economics, said.

Official data earlier this month showed retail sales grew at a sluggish pace in August, adding to signs that overall economic growth slowed in the third quarter.


 

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