U.K. Retail Sales Hit Three-Year High

LONDON—U.K. retail sales rose above a three-year high in August, as sales, warmer weather and summer holidays boosted demand, a survey by the Confederation of British Industry released Thursday showed.

The CBI monthly Distributive Trades Survey's retail sales balance rose to +35 in August from +33 in July, the highest level since April 2007 when it was +44.

The balance is the difference between the percentage of retailers reporting higher sales volumes than the corresponding month last year and those reporting lower sales. In August, 18% of respondents said sales were lower .

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With those tax rates, it's a miracle the Brits have any money to spend at all.

 

This is a great environment to be making money and SPEND SPEND SPEND. It's a virtual ATM machine.If any of you are not raking in big bucks, I feel sorry for you.