British retailers post rebound in October – CBI

By: MRT Desk

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British retailers post rebound in October - CBI

British retail sales rebounded this month, according to an industry survey released on Thursday that contrasts with other, gloomier indicators of the consumer economy.

The Confederation of British Industry’s (CBI) monthly retail sales balance rose to +18 in October from -20 in September.

“Retail sales volumes recovered to grow at a steady pace this month, but retailers continue to face a challenging operating environment due to rising costs, rising interest rates and labor shortages,” said CBI economist Martin Sartorius.

The survey was conducted between Sept. 27 and Oct. 13 and was based on responses from 53 retail chains.

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