An unexpected rise in sales in the first month of 2012 has both surprised and delighted the retail industry. Read more...

US economic affairs website the Financial News has reported an eight per cent rise in gold trading over the last three weeks, attributed to the approaching Chinese New Year.

London businesses and organisations in the retail sector have welcomed a release by Transport for London (TfL), detailing 'hotspot' transport information and advice for the London 2012 Games.

The British Retail Consortium (BRC) has published "comprehensive new evidence" on retailing's importance to kick-starting growth and job creation. The research, entitled UK Retailing: leading globally, serving locally, "brings together data on all facets of retailing for the first time."

The new retail prices index (RPI) inflation figure suggests the possibility of a business rate increase of £350 million for retailers next April, which is the equivalent of at least 16,000 jobs in the sector.

As a standard, business rates in England, Scotland and Wales rise every April in line with the previous September's RPI. The figure has been announced as 5.6 per cent, the highest for 20 years.

The British Retail Consortium (BRC) has calculated an increase of this size would add £350 million to retailers' business rates bills at a time when the health of the high street is already under the spotlight.

BRC director general Stephen Robertson said: "Basing business rates rises on the previous September's RPI is a lottery and retailers have just seen a losing number come up.

"With trading conditions staying tough, an increase on this scale would have a hugely detrimental effect on retailers' ability to invest and create jobs.

"The Government should impose a much lower increase and, for the longer-term, review the system so that future increases are more predictable and more affordable."

The latest CBI Monthly Distributive Trades Survey revealed that retail sales fell in the month leading to October, however it foresees a slight increase in the coming month.

The organisation reported that 24 per cent of companies saw sales volumes rise compared to a year ago, while 36 per cent reported a fall, giving a rounded balance of -11 per cent. The volume of sales was poor for the time of year (-34 per cent), and was the lowest since May 2009 (-36 per cent).

Next month, sales volumes are expected to increase by four per cent. CBI chief economic adviser Ian McCafferty said: "High street sales remain difficult but the decline has stabilised, and retailers expect there to be some very modest growth next month in the build-up to Christmas."

The volume of orders placed with suppliers was broadly flat year-on-year (one per cent), following a fall last month (-16 per cent). The volume of stocks in relation to expected demand was stable (15 per cent) and is expected to be broadly the same next month (12 per cent).

Among wholesalers, 37 per cent saw sales volumes increase, while 28 per cent reported a decrease, giving a rounded balance of 10 per cent, with minus two per cent expected in November.