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Financial News: UK Retailers Expect Sales To Rise Further In

UK Retailers Expect Sales To Rise Further In November: CBI

10/26/2021 - 06:31:00 (RTTNews)

(RTTNews) - UK retailers expect sales to be above seasonal norms in November, the Distributive Trades Survey results from the Confederation of British Industry revealed on Tuesday.

The retail sales balance rose to 30 percent in October from 11 percent in September. A net 35 percent forecast sales to increase further next month.

A net 48 percent of retailers reported order growth in October versus 20 percent in September. However, a net 41 percent expects orders to ease slightly next month.

However, this pick-up may partly reflect a comparison with October 2020, when sales and orders both declined amid rising Covid-19 cases and a tightening of social restrictions.

"The UK's economic recovery has been pretty bumpy lately and the same seems true of the retail sector," Ben Jones, CBI principal economist, said. Sales performance has jumped around in recent months, while stock shortages continue to bite.

"Disruption to supply chains, combined with staff shortages and uncertain public health conditions mean retailers are finding it difficult to plan for the winter ahead," Jones added.

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