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Wednesday, 11 November 2009

Great News - the Upturn is here!

By Wayne Bly

Businesses have been boosted by the news that the UK has seen the best October sales for seven years, according to new research.Figures released by the British Retail Consortium (BRC) and KPMG Retail Sales Monitor for October 2009 showed a like-for-like rise of 3.8 per cent on the same time last year, when sales had fallen by 2.2 per cent in the face of the financial markets crumbling.

Overall, sales rose 5.9 per cent against a 0.1 per cent decline in October 2008.Stephen Robertson, director general of the BRC, said that the results were "encouraging" for people in sales jobs, illustrating the best like-for-like and total October sales growth since 2002. "With less than 50 days to go before Christmas, retailers will be hoping improved consumer confidence will be sustained during the festive period and beyond. Shops have already started to battle it out for customers with a string of promotions and discounts," he added. Mr Robertson also commented that 2010 had many uncertainties in store for people in sales jobs, including the likelihood of rising taxes.

Earlier this month, the BRC reported that consumer confidence had risen to its highest point for 18 months, with indexes showing an increase to 75, a ten point increase from the all-time low of 65 in April.

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