Retailers have reported a strong rise in sales volumes during the first two and a half weeks of October, according to the latest Distributive Trades Survey from the CBI.
The survey revealed 47% of retailers reported sales volumes up on a year ago, with 17% saying they were down, giving a resulting balance of +30%, doubling previous expectations of +15%. Looking ahead, retailers are optimistic the growth will continue to November (+27%).

Furniture and carpet retailers came out on top for the period, with 58% more reporting an increase than those seeing a fall. Other sectors performing well were clothing (+57%), grocers (+33%) and the footwear and leather category (+39%).

The volume of orders placed on suppliers across retail increased by 4%, which was a good comparison to the flat expectations of -2%.

CBI head of economic analysis Anna Leach said: "It is great news that last month's sales growth has continued into October, at a much faster pace than expected, and that this momentum is expected to continue next month too.

"Falling inflation has somewhat eased pressures on family budgets, so that households are a little more willing to spend. But there's still a risk that ongoing uncertainty over the global economic outlook could dent consumer confidence, hitting prospects for the retail sector, while the scope for inflation to fall further is limited."

It was a less optimistic picture for wholesalers, meanwhile, who saw a slight fall in sales volumes on a year ago (-6%) despite expectations of modest growth (+6%), and sales are expected to continue falling in November (-6%).