U.K. high street sales and orders logged stronger-than-expected growth in September, the latest Distributive Trades Survey from the Confederation of British Industry showed Tuesday.
The retail sales balance rose to +49 percent from +24 percent in August. It was above the expected level of +28 percent.
About 55 percent of firms expect sales volumes to increase, and 4 percent expecting a decrease, giving a balance of +51 percent.
Retailers placed more orders on suppliers, with the balance rising to +30 percent, the highest since December 2010. The balance is expected to strengthen further to +44 percent.
The survey was conducted among 119 firms between August 26 and September 15.
“Low inflation and the recovery in wage growth are helping to stimulate consumer demand, but the slowdown in the global economy and tight margins mean retailers won’t get ahead of themselves as we head into autumn,” Rain Newton-Smith, CBI Director of Economics, said.
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