Economic Indicators
UK retail sales go into reverse this month, CBI survey shows
2024.06.26 06:27
(Reuters) – British retail sales softened this month after a recovery in May, and store chains expect another drop next month, an industry survey showed on Wednesday.
The Confederation of British Industry’s monthly retail sales balance, which measures volumes compared with a year ago, fell to -24 in June from +8 in May.
“Unseasonably cold weather in June may have played a role, but its notable that internet retail sales fell sharply in our survey, too,” said Alpesh Paleja, interim deputy chief economist at the CBI.
The survey’s gauge of expected sales next month showed a reading of -9, indicating a modest drop in sales volumes compared with a year ago, compared with -4 in last month’s survey.
