UK retailers report strong pre-Xmas demand

Reuters
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Source: Reuters on Twitter, 25/11/2021

LONDON (Reuters) — British retailers reported the strongest pre-Christmas demand since 2015 this month but also the biggest price rises since 1990, as fears of shortages led shoppers to buy gifts early, figures from the Confederation of British Industry  (CBI) showed.

The CBI said its monthly retail sales balance rose to a three-month high of +39 in November from +30 in October.

But a separate measure of sales for the time of year leapt to +35 from -1, its highest since September 2015.

«Christmas seems to have come early for retailers, with clothing and department stores in particular seeing a big upward swing in sales volumes in November,» CBI economist Ben Jones said.

Previous shortages of some goods appeared to have made shoppers want to make their purchases earlier this year.

Retailers reported the most widespread rise in prices since May 1990, and expected a similar increase for the following month.

Employment in the sector — which has been under long-term pressure from online retail — also rose for the first time since November 2016.

 

Last Updated on 25.11.2021 by iskova