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UK Retail Sales Slide In September: CBI

By Donna Ahern
UK Retail Sales Slide In September: CBI

British retailers reported a slide in sales this month and expect a further fall in October, a survey from the Confederation of British Industry showed on Friday.

The CBI's monthly distributive trades survey showed the retail balance - the difference between the percentage of retailers reporting rises and falls in sales volumes compared with a year ago - fell to -20% in September from +37% in August.

Lowest Reading Since April

This was the index's lowest reading since April, and well below forecasts in a Reuters poll for a drop to +10%.

For October, retailers expect a reading of -13%.


"Following a brief return to growth last month, retail sales volumes have once again fallen in the year to September, as the cost-of-living crisis continues to weigh on households' spending," Martin Sartorius, economist, CBI said.

News by Reuters, edited by Donna Ahern, Checkout. For more retail stories, click here. Click subscribe to sign up for the Checkout print edition.

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