British retailers expect sales volumes to be broadly flat in the year to December with the nationwide lockdown due to end on December 2, the Distributive Trades Survey from the Confederation of British Industry showed on Tuesday.
Although sales volumes decreased in November, online sales posted its biggest growth in two years. The retail sales balance fell to -25 percent in November from -23 percent in October.
A balance of 55 percent said internet sales increased in November, the fastest since October 2018.
Orders decreased in November, but at the slowest pace since December 2019. The balance came in at -10 percent versus -39 percent in October. Orders are expected to fall at a similar pace next month.
“This month’s survey gives hope that the economic impact of the Autumn lockdowns should not be as severe as in the Spring,” Ben Jones, CBI principal economist, said.
Both consumers and firms are adapting as best they can, borne out in this month’s strong online sales.
With encouraging progress on mass, rapid testing and vaccine solutions coming down the track, there is reason for growing consumer and [business][1] confidence going into 2021, Jones added.
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