CBI Distributive Trades Survey: Mild weather hits retail sales growth in November ahead of shopping bonanza
Retail sales growth unexpectedly slowed in the year to November, for what's now the second month in a row, however shop owners are bracing for a shopping bonanza ahead of Black Friday and the Christmas period.
The balance of CBI's quarterly distributive trades survey unexpectedly dropped to +7, from +19 in October, marking the slowest growth rate in nine months.
The survey also showed new orders from suppliers fell for the first time since April 2015. But sales were narrowly above average for the time of year.
There were some bright spots, with firms expecting growth to bounce back in December thanks to the Christmas period, and they've have been recruiting at their strongest rate for 17 years.
Read more: Why we can't wait for Black Friday
"After a stronger showing earlier in the year, retailers will naturally be disappointed by the unexpected slowing in sales growth in November, which may be related to the mild start to the autumn," Rain Newton-Smith, director of economics at the CBI, said.
"Nevertheless, it’s encouraging that retailers have been boosting employment and we expect that trend to continue."
"High street conditions remain competitive, with many sectors still cutting prices to attract customers, but ongoing improvements in wages combined with low inflation should continue to support household spending."