Newspaper article The Journal (Newcastle, England)

Retail Sales Show Growth

Newspaper article The Journal (Newcastle, England)

Retail Sales Show Growth

Article excerpt

Both the retail and manufacturing sectors have enjoyed growth in the past month, according to new research.

Retail sales grew in May at their fastest rate for two years and are expected to be almost as strong this month, according to the CBI's latest quarterly Distributive Trades Survey.

And the closely-watched CIPS Purchasing Managers' Index, which measures confidence in manufacturing, was up slightly at 55.6 for May, from 55.2 in April.

The result took some commentators by surprise after official figures from the Office for National Statistics (ONS) last week showed the sector to have declined over the first three months of this year.

In the CBI retail survey, 65pc of respondents said sales were up compared with a year ago, while 14pc said they were down.

The balance of plus 51pc compares with plus 30pc last month and indicates the highest sales growth since April 2002.

But despite strong sales, and despite previously expecting a modest increase in employment, retailers cut jobs sharply. …

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