| Retail sales fall at fastest pace since March - CBI |
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High street sales have fallen at their fastest rate in almost three years as the household squeeze continued to take its toll on retailers, raising fresh fears about the recovery, according to research by the CBI.
The scale of decline in annual sales growth for November was far more severe than expected, at minus 19, and far worse than the minus 11 recorded in October, the CBI's Distributive Trades Survey showed. It was the lowest recording since March 2009. Samuel Tombs at Capital Economics said: "November's survey suggests that the pressures on consumers' finances are taking their toll on spending on the high street." He added that is pointed "to retail sales volumes falling at an annual rate of around 2pc". |
