Sales on the high street are continuing their upward trend with strong year-on-year growth in the first half of December, according to the latest CBI Distributive Trades Survey.
For December, 67 percent of retailers reported that sales were higher than a year ago, while just 11 percent reported they were lower, giving a balance of +56 percent, the highest figure since April 2002 (+57 percent). This means there have now been six months of strong sales figures in a row since July. The sub-sectors with the strongest sales growth were hardware and do-it-yourself, clothing and non-specialized retailers such as department stores and grocers.
Retailers anticipate slower growth next month, with a balance of +35 percent expecting volume of sales to be higher than a year ago.
