"Ongoing retail sales growth should help to drive economic growth and raises the likelihood that the UK has risen from its double-dip recession in the third quarter ..."
- Chris Williamson, from Markit
British retail sales rose slightly in September, a sign consumers are showing more willingness to buy, the Confederation of British Industry reported on Wednesday. CBI realized trades rose to 6 in this month, up from -3 in the previous month. A reading above 0 indicates higher sales volume, while any reading below signals lower volume of sales.
"While the squeeze on family budgets may have eased in the short-term thanks to the fall in inflation, ongoing economic fragility, reflecting uncertainty around the international outlook, could affect household spending later in the year," said Judith McKenna, chief operating officer of Asda and chairwoman of the CBI panel.
"Ongoing retail sales growth should help to drive economic growth and raises the likelihood that the UK has risen from its double-dip recession in the third quarter and, from a consumer angle at least, will start the fourth quarter on a reasonably sound footing," said Chris Williamson, from Markit.
The FTSE 100 Index edged lower 1.56 per cent to 5,768.09. The broader FTSE All-Share Index erased 1.55 per cent to 3,010.10.
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