UK: retailers report strong sales growth in past year
A RECENT survey of 124 British retailers by the Confederation of British Industry (CBI) found that 48 per cent had achieved higher sales in the year to September 2014, with only 17 per cent reporting a sales decline. The resulting positive balance of 31 per cent allowed the average quarterly sales balance to reach +33 per cent, the highest since February 2011. The apparel sector performed particularly well, with a positive balance of sales reaching an average of +68 per cent. The CBI report said that sales are expected to show an equally strong growth in the 12 months to November.
It remains to be seen whether the positive consumption trend in the UK can be maintained if the Euro zone economy continues to stagnate as it has done in the past few years.