Weak retail sales growth heightens recession fears

The CBI's December Distributive Trades Survey revealed 42% of firms saw sales volumes grow year-on-year in the first half of December, but 33% reported a drop. The positive 8% balance is the weakest since November 2006 and is the fourth month in a row sales growth has failed to meet expectations. Conducted between 29 November and 12 December, the survey also shows the three-month moving average slowed slightly from a balance of positive 12% in October and November to positive 10%. "We're coming to the end of what's been a successful year for many on the high street, CBI distributive trade...