Will winter boost UK 8217 s ailing retail sector

The wet weather that hit the UK in spring and early summer this year has damaged the country's retail sector as consumers were put off buying seasonal outfits, but the coming of winter could provide this side of the market with a much-needed boost.

According to Sainsbury's Bank, Britons will spend £5.9 billion on garments befitting the cooler climes for themselves and their families.

The supermarket's research – which was compiled by ICM – found that this winter, Britons are looking to stock up on knitwear such as cardigans and jumpers, with 38 per cent of people saying they have already bought or are looking to buy these items.

Furthermore, one-third of shoppers are going to purchase gloves, while 29 per cent have a winter coat on their list.

But it may be a while before this upturn in seasonal spending is reflected in the markets, because at 10:40 GMT today (December 17th), the FTSE 100 retreated by 0.5 per cent to an index value of 5887 points.

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