“The relief from the rising burden of business rates in Chancellor’s Budget will be welcome on the UK’s high streets, as will the investment in local transport connections and housing which should supporting our local communities but the job is not done, now is the time for swift delivery.”
CBI Realized Sales survey showed balance of +26%
According to the latest CBI survey 39% of respondents reported that sales volumes were up on a year ago in November, while 13% said they were down, giving a balance of +26%. Retailers expect sales volumes to pick up again next month (+30%), with 39% expecting them to rise and 9% to fall. 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 has pushed up prices and retailers are nervous about business conditions and are trimming their workforces.
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