- Analytics
- News and Tools
- Market News
- Pace of decline of UK retail sales volumes slows slightly less than expected in June - CBI
Pace of decline of UK retail sales volumes slows slightly less than expected in June - CBI
The
Confederation of British Industry (CBI) reported on Thursday its latest survey
of retailers showed retail sales volume balance stood at -37 in the year to
June, up from -50 in May, which marked another steep drop in sales. However, stronger
growth for grocers and stable volumes in the specialist food and drink sector
ensured a slower pace of decline than in May.
Economist had
forecast the reading to increase to -34.
Retail sales
volumes are expected to fall at a slightly faster pace in the year to July (-48),
mostly reflecting slower growth for grocers and a decline in sales for
specialist food and drink retailers.
The report also
revealed that orders placed on suppliers continued to decrease in the year to
June, albeit at a slower rate than last month, (-42 compared to -56 in May) and are expected
to fall at broadly a similar rate in the year to July (-44).
Rain
Newton-Smith, CBI Chief Economist, noted: “With high street shops, department
stores and shopping centres re-opening across England last week amid some
scenes of long queues, you’d be forgiven for thinking retailers’ difficulties
are coming to an end. But the health of the retail sector remains in the
balance.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
