CBI: UK Retail Sales Index Rose in November
Growth of the British retail sales improved in November. The Confederation of British Industry's (CBI) monthly retail sales balance rose to +19 from +5 in October. Economists had pointed to a reading of +10.
Sales volumes rose in November as a whole in line with the long-term average annual value. Retailers expect sales to grow at about the same rate year-on-year by December. However, sales remained below the annual average.
While November's pick-up was stronger than expected, other parts of the survey were less promising. Business expectations for the next three months cooled to their lowest level since May 2017. Retailers feel disadvantaged, with continued weak investment intentions, employment and business optimism.