High street sales have grown modestly in the year to October – albeit from weak levels in 2008 – and at the most positive rate in two years, while optimism among UK retailers is also at its highest level since July 2007, according to the CBI.

The employers’ group’s monthly distributive trades survey has found a balance of 8 per cent more respondents reporting that volumes have risen in the past month than those reporting a drop. A balance of 19 per cent more retailers expect sales to improve even further in November.