UK retail sales index drops to five month low

One survey has just shown retail trends at their lowest level in five months. The Confderation for British Industry's (CBI) indicator dropped from two to one in November, despite analysts expecting a monthly rise to eight.

The CBI said that high-street sales were flat in the year to November, disappointing retailers' expectations for the second consecutive month.

Despite this, Barry Williams, Asda chief merchandising officer for food, and chair of the CBI Distributive Trades Survey Panel, said that "retailers remain optimistic for the Christmas period, and have taken on more employees in anticipation of a shopping rush that should add jingle to the tills."