Autumn ranges boost sales
CBI figures show UK consumer confidence higher in September
October 2 2002
The launch of the new season’s product ranges brought a lift in UK retail sales in September.
The CBI’s monthly Distributive Trades Survey for September Retailers shows after the August survey which showed the weakest growth for nearly two years. However, underlying sales growth remains weak and well below the the first half of this year.
Asked to compare sales with a year ago, 41 per cent of retailers said sales were up while 23 per cent said they were down.
Stores selling furniture and carpets and shops selling durable household goods all reported strong growth, refecting the strength of the housing market. Booksellers, grocers and chemists also reported sales growth.
Alastair Eperon, Chairman of the CBI’s DTS panel, said: “The September rally in sales growth is heartening but it doesn’t reflect the underlying slowdown experienced by many retailers. The expectations of further modest growth in October are significantly lower than what was achieved at the beginning of this year.
“Consumers are either being careful with their money, or they have less to spend.”
