Retail sales rebounded in October from the month before, but the bounce-back is likely to be short-lived.
According to the CBI’s latest distributive trades survey, which mostly covers major high street chains, the retail sales balance rose to +18 this month, up from -20 in September. Activity in September was thought to be depressed by the Queen’s funeral.
However, the survey of 127 firms, including 53 retailers, found that sales would be likely to fall next month, although at a slow pace, as retailers run down stocks and return to more seasonal norms.
