UK December CBI retailing reported sales -3 vs 0 expected
Latest data released by CBI - 21 December 2020
UK retail sales is seen picking up ahead of the Christmas period, with CBI noting that:
- Prior -25
- Total distributive reported sales -2
- Prior -21
"It says something about the challenges the retail sector has faced during 2020 that stable volumes in the run-up to Christmas were seen as a good result for the time of the year. The new year looks set for an unpromising start, with retailers anticipating a sharp fall in sales in January."
Of note, the outlook reading is seen at -33 and the thing to note about this survey is that it came before tougher lockdown restrictions were announced for London and southern England over the weekend by the government.
The readings here are an indicator of short-term trends in the retail and wholesale sector of the UK economy.