–UK CBI: Sep Reported Sales Balance -15% Vs -14% In Aug
–UK CBI: Oct Expected Sales Balance -14% Vs -7% For Sep
–UK CBI: Sep Orders Volume Balance -16% VS -22% In Aug
–UK CBI: Oct Expected Sales Lowest Since Jan 2010
–UK CBI: Sep Orders Vol Balance Lowest Since Sep 2009
LONDON (MNI) – High street sales volumes dipped in Sepetember to
hit their lowest level since May 2010, and October is expected to be
another tough month.
The latest CBI survey showed the September reported sales balance
fell to -15 from -14 in August, while the October expected sales balance
dropped to -14 from -7 for September, hitting its lowest level since
January 2010.
The weakness was expected by analysts. The outturn was just below
their median forecast for a -14 outturn in a Market News survey.
Underlying sales, the three month moving average, fell to -11 from
-7, the weakest outturn since January 2010.
The CBI found clothing and homewear sales were particularly poor,
with the data confirming the trend of consumers’ cutting back on
discretionary spending.
“With the consumer squeeze set to get tighter with the winter
utility bill rises, we expect retailers will face a challenging
October,” Judith McKenna, chair of the CBI’s Distributive Trades Panel
and ASDA chief operating officer, said.
–London bureau: 44 20 7862 7491; email: ukeditorial@marketnews.com
[TOPICS: MABDS$,M$B$$$]
