Figures released by the Confederation of British Industry (CBI) as part of its monthly Distributive Trades Survey underlined that the country's sales volumes have witnessed a substantial boost.
In fact, 47 per cent of retailers surveyed reported that their sales volumes were higher in October 2012 when compared to the same time last year.
Meanwhile, just 17 per cent of companies in the retail industry admitted that their sales had fallen during the last 12 months.
The resulting +30 per cent balance is much better than the +15 per cent forecast that had been given for retail sales, as well as the being the fastest rate of sales growth since June.
Anna Leach, head of economic analysis at the CBI, commented: "It is great news that last month's sales growth has continued into October, at a much faster pace than expected, and that this momentum is expected to continue next month too."
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Posted by Nikki Barrister
Source: The Sales Executive News