Latest CBI report highlights that despite growth, retailers will need a shopping spree to meet targets

High Street hopes for Xmas rush

High Street retailers will need a late rush of Christmas shoppers if hopes for a strong festive season are to materialise, despite continued growth warned the CBI today.

Four in ten of those questioned by the CBI said that year-on-year sales volumes rose in the first half of November, however, one in four said that they had experienced a downturn.

Looking ahead, many said that expected growth in December, despite sales being slightly below what they were at the same point last year.

The report also confirmed fears that as, inflationary and financial worries increase; consumers were continuing to tighten their belts. Items such as furniture and PCs were particularly hard hit with the trade balance falling from +35 per cent the previous month to -14 per cent during November.

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