The Confederation of British Industry (CBI) released its retail sales balance data on Tuesday. The CBI retail sales balance plunged to +7% in November from +19% in October, missing expectations for a rise to +25%.
Sales expectations for next month were up to +31% in November from +24% in October.
"After a stronger showing earlier in the year, retailers will naturally be disappointed by the unexpected slowing in sales growth in November, which may be related to the mild start to the autumn. Nevertheless, it's encouraging that retailers have been boosting employment and we expect that trend to continue," CBI Director of Economics, Rain Newton-Smith, said.
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