The Black Friday shopping frenzy has helped to drive British retail sales growth to a near 27-year in the run up to Christmas.
Figures from a CBI survey show that most shops reported a sales boost, with retailing hitting its highest levels since January 1988. Spending was further helped by solid economic growth and a drop in the price of food and fuel.
Supermarkets enjoyed the strongest rates of growth.
Of those surveyed seven out of ten said that sales were higher than a year ago, with only nine saying they were lower. The balance of 61 was the highest in almost 27 years and far better than the expected reading of 38.
However, the FT reports that many stores are concerned that Black Friday may have cannibalised sales from this coming weekend, traditionally the strongest seasonal performer for retailers.
The Times, 8
FT Weekend, 16
Daily Telegraph, 4
