Relief for retailers as sales rise in November

Helen Cahill
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Businesses Hope For An Early Boost In Festive Takings
After sales fell in October, retailers will be trying to make up for lost ground over Christmas (Source: Getty)

The retail industry celebrated a bump in sales in November, according to the Confederation of British Industry (CBI), but the business group warned that the sector is not "out of the woods" yet.

The CBI found 40 per cent of retailers reported a higher sales volume year-on-year in November, with 13 per cent saying volumes had fallen.

Read more: Retail sales fell less than expected in October

The data comes after a difficult October, when sales fell for the first time since 2013, according to data from the Office for National Statistics.

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the figures were a "solid start". However, he said it was too early to tell what would happen over the key Christmas shopping period.

Rain Newton-Smith, CBI chief economist, said: "It's great to see retail sales rebound this month after a big dip, but let's be clear: our high streets are not out of the woods.

"Ahead of the crucial run up to Christmas, the weaker pound pushed up prices and retailers are nervous about business conditions and are trimming their workforces."

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