Retail sales rise may lift UK out of recession-papers

According to The Times, CBI figures show approximately 41% of retailers said the volume of goods sold between September 29 and October 14 was higher than the same period last year, while 33% reported a fall. Retailers are also optimistic about performance over the coming months, with those expecting volumes to increase rising to 19%, the highest level since July 2007. Howard Archer, chief UK and European economist at IHS Global Insight, says: "Given that consumer spending accounts for 65% of GDP, the figures boost hopes that the economy will finally return to growth in the fourth quar...