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UK CBI NOV. DISTRIBUTIVE TRADES SURVEY -46 V OCT.'S -27, EXPECTED SALES -40

Posted:28/11/2008 11:37 by Stephanie Sprague
The Confederation of Business Industry's (CBI) distributive trades survey showed UK retail sales fell much more than expected in November, with nearly half of retailers polled saying sales decreased on the month. November' survey showed a net balace of -46 versus -27 in October and against average trade forecasts of -35. November's -46 reading matches the record low set in August. UK retailers are not looking for much improvement in the run-up to Christmas either, with 40% now looking for sales to fall in December from 25% the month before. The CBI said there were sharp sales declines at grocery stores, ending two years of continuous growth. All other sectors reported lower sales except footwear and leather. "Bg ticket items like consumer durables, furniture, carpets and DIY are really being hit, and with a thawing of the housing market remote, this is unlikely to change," said Andy Clarke, Chairman of the CBI's Distributive Trades panel. click here to return to the top of the page
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