Retail sales in the next six months are expected to perform significantly better than the 10-year average in signs that the sector is recovering.
The Opera Solutions Retail Predictor (OSRP) for Retail Week said strong growth over the past two months indicate economic growth. When comparing the last three months on the previous three months the quantity bought grew 1.7%.
The OSRP forecasts sales will exceed the 3%-3.1% averages until March.
Retail sales are predicted to jump 3.9% in October, 4.2% in November, 4.5% in December and 5.3% in January.
Although sales growth is expected to ease in February to 3.5% and 3.9% in March, these are also above the 10-year average.
Despite the positive figures, the OSRP warned: “The sustainability of this growth could be threatened by the high inflation dampening consumers’ buying power.”
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