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UK Retail Sales Grow More Than Expected In Nov, Outlook Dims: CBI

UK retail sales growth in November was greater than expected, though retailers are gloomy about activity in the next three months, a survey by the Confederation of British Industry showed on Tuesday.

The monthly retail sales balance of the Distributive Trades survey rose to +9 from +5 in October. Economists had forecast +10.

Retailers expect sales to pick up in December, giving a survey balance of +22.

However, they expect business situation to deteriorate over the next three months, giving a balance of -9.

"While it is encouraging to see headline retail sales growth strengthen in November after a weak out-turn in October, the quarterly survey continues to paint a gloomy picture of the sector," CBI Head of Economic Intelligence Anna Leach said.

"Business sentiment remains poor, investment intentions are flat, and headcount continues to decline."

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