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Retail sales growth slows

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Retail sales growth slows Thursday 28 October 2010 6:45 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Retail sales growth eased in October from September’s six-year high, but stayed well above average and at its second-highest level this year, a survey by the Confederation of British Industry showed.The CBI’s monthly distributive trades survey’s reported sales balance dipped to +36 in October from +49 in September, broadly in line with economists’ forecasts of a slowdown to +35.The figures suggest that at least part of the British economy continued to perform strongly at the start of the fourth quarter of 2010, following unexpectedly strong GDP growth in the third quarter.The expected sales balance for November pointed to further strong sales growth in the run-up to Christmas and ahead of a planned rise in value-added tax in January, with retailers predicting a reading of +43.Strong sales growth was not just down to seasonal factors. October’s sales balance for the time of year, at +20, was the highest since May 2007, and this was expected to remain the case in November.However, the longer-term outlook was less encouraging.“High street sales in aggregate have performed well again this month, but sales of durable household goods have slowed noticeably, in line with more subdued housing market activity of late,” said CBI chief economic advisor Lai Wah Co.“Retailers expect sales growth to continue next month in the run up to Christmas. We should also see more of a boost to sales as shoppers to beat the New Year VAT rise, but looking beyond that, broader consumer caution may temper growth in spending into 2011.” whatsapp Sharecenter_img John Dunne Show Comments ▼ whatsapp Tags: NULL last_img

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