LONDON (MNI) – UK retail sales volumes fell at the fastest pace for
over a year this month, according to the latest survey from the
Confederation of British Industry.
Sales volumes fell to a balance of -14% from -5 in July, the lowest
balance seen since May 2010.
Analysts had expected a balance of -10, according to the median
forecast from an MNI survey.
Retailers said that they expected little improvement in sales over
coming months, with the expected balance rising only slightly to -7 for
September from -12 in August, well below levels seen earlier in the
year.
The CBI said that retailers are now at their most negative about
the business situation since February 2009.
The survey was conducted between July 28 and Aug 16.
–London bureau: 44 20 7862 7492; email: ukeditorial@marketnews.com
[TOPICS: MABDS$,M$B$$$,MT$$$$]
