UK DATA: CBI DISTRIBUTIVE TRADES: JUL REPORTED SALES VOLS 11% VS 42% JUN
–UK CBI: AUG EXPECTED SALES BALANCE +3% VS +32% FOR JULY
–UK CBI: JULY REPORTED ORDERS VOLUME BALANCE +5% VS +23% JUNE
–UK CBI: AUG EXPECTED ORDERS VOLUME BALANCE -1% VS +21% JULY
–UK CBI: JUL VOLUME OF SALES 3M MOVING AVERAGE +25% VS +19% JUN
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Retail sales saw further growth in July, but it was much less
widespread than in June and less strong than retailers had expected. The
reported sales volume balance for July dropped to 11 from 42 in June,
well below the 32 expected balance for July in last month’s survey. The
CBI attributed the weaker growth in part to the wet weather, but said
trading conditions were likely to remain tough.