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29th January 2008
January retail figures slow again
Retail sales growth slowed again in January, new research has revealed.
According to the Confederation of British Industry (CBI) in its Distributive Trades Survey, +4 per cent reported an increase in sales, the slowest growth since November 2006.
However, the figures are better than the projected -5 per cent and next month sales are expected to grow to +10 per cent, providing some joy to wholesalers.
John Longworth, chairman of the CBI's Distributive Trades Panel, revealed his optimism that the market could improve.
"The January sales were a little flat this year, and were weaker than the lacklustre lead-up to Christmas," he said.
He added: "Overall retail sales were still better than expected this month, and the high street does predict a slight improvement in February."
Meanwhile, in further negative news for wholesalers, recent figures from the Office for National Statistics revealed a 0.4 per cent December dip in sales.
(c) 2008 Adfero Ltd.
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