Retailers predict weak Christmas

Retailers are overwhelmingly predicting falling sales this Christmas, according to the latest survey from employers’ organisation, the CBI.

Of retailers polled, 40% more of them were predicting sales in December would be lower than last year than said sales would be higher.

They were polled in the first half of November, before many of them began aggressive discounting.

And retailers were even more gloomy about sales so far in November.

A large number of respondents, a negative balance of 46%, said retail sales were lower in the first half of November this year compared with one year ago.