UK Contractors: Retail sales saw significant growth during August
Contractors and Limited company owners trading in retail will be pleased to hear that new findings have revealed that growth within the sector has picked up.
The latest quarterly Distributive Trades Survey, carried out by the Confederation of British Industry (CBI), surveyed 142 firms made up of retailers, wholesalers and motor traders.
Retail sales grew strongly in the year to August with the pace of growth expected to accelerate again in the month ahead, with retailers more optimistic about their business prospects for the next quarter than at any time since May 2002.
The CBI findings also found that sales volumes rose particularly strongly among grocers, chemists and furniture & carpet retailers, but specialist food & drink retailers recorded a fall in sales volumes.
According to the research, growth in internet sales volumes also picked up in the year to August, and is expected to strengthen further next month.
Katja Hall, CBI Deputy Director-General, commented on the findings, “The high streets have been bustling with shoppers this summer and it is good to see firms so optimistic about their business prospects for the next three months – higher than at any time since 2002.
“Retailers looking forward to stronger growth in September are keeping their shelves well-stocked in anticipation.”
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