Retail stock levels reach record high stoked by Brexit fears

Retail sales have been falling, according to the CBI

Retailers’ stock holdings versus anticipated sales have reached an unprecedented level, partly on the back of Brexit concerns, according to the CBI.

The increased stock levels in October followed an earlier peak in August. The business organisation said the approach of Christmas, as well as Brexit jitters, had driven higher stock holdings.

The UK had faced the possibility of a no-deal Brexit at the end of this month, but that will not happen after an extension of the departure date to January 31 was agreed. A general election is now on the cards.

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