UK Retail Sales Decline Sharply In September: CBI

UK retail sales declined sharply in September on the cost of living crisis, the Distributive Trades Survey from the Confederation of British Industry showed Friday.

The retail sales balance fell more-than-expected to -20 percent in September from +37 percent in August. The score was seen at +10 percent. A net 13 percent of retailers expect sales volumes to fall again in October.

Internet sales volume also declined notably in September, with the balance falling to -19 percent from -7 percent in August. A net 14 percent said internet sales will fall next month.

“Following a brief return to growth last month, retail sales volumes have once again fallen in the year to September, as the cost-of-living crisis continues to weigh on households’ spending,” Martin Sartorius, CBI Principal Economist, said.

The Government’s announcements this week to support firms on energy costs and setting out their pro-growth agenda should help instil confidence, added Sartorius.

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