Are there “Green shoots” in the High St at last? Sales are growing at their fastest rate since the slump began, according to figures today from the CBI.
41% of retailers reported sales volumes for the year to October had risen, and 33% said that they were down.
The net balance of plus 8% was the highest since December 2007.
The findings far exceeded analysts’ expectations of a balance of 3 per cent.
In August, the figure was minus 16 per cent.
Demand for furniture, carpets and other household goods were the highlights reflecting the pick-up in the housing market.
In a show of confidence , the survey found that a balance of 19% of retailers expect sales volumes to improve next month — the most optimistic since July 2007.