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- UK retail sales declined sharply in the year to October says CBI
UK retail sales declined sharply in the year to October says CBI
The survey of 106 firms, of which 49 were retailers, showed that in the year to October, retail sales fell at the quickest rate since March 2009 - the height of the financial crisis. Overall, sales for the time of year were considered to be slightly below seasonal norms. Meanwhile, orders placed on suppliers also dropped at the fastest rate since March 2009.
Looking ahead to the next month, retailers expect sales volumes to stabilise in the year to November, but orders are expected to see a further decline, albeit at a slower pace.
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