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- Samuel Tombs, an economist at Capital Economics
Retail sales in the U.K. declined in November for a sixth consecutive month to the lowest reading since March 2009, said the Confederation of British Industry on Monday. The index measuring sales declined to -19 in November from -11 in October. Above 0 indicates higher sales volume, below indicates lower.
"November's survey suggests that the pressures on consumers' finances are taking their toll on spending on the high street," said Samuel Tombs, an economist at Capital Economics .
"Retailers remain hard pressed, even as we get closer to Christmas," Ian McCafferty, chief economic adviser at the CBI, said in a statement. They "may be hoping that shoppers will loosen their purse strings in the run-up to Christmas, but consumers are likely to remain cautious about spending given the uncertain economic outlook."