UK retail sales slide in September – CBI

A woman walks past a row of empty retail units on an empty shopping street in Blackpool, Britain, March 9, 2021. REUTERS/Phil Noble

LONDON, Sept 23 (Reuters) – British retailers reported a slide in sales this month and expect a further fall in October, a survey from the Confederation of British Industry showed on Friday.

The CBI’s monthly distributive trades survey showed the retail balance – the difference between the percentage of retailers reporting rises and falls in sales volumes compared with a year ago – fell to -20% in September from +37% in August.

This was the index’s lowest reading since April, and well below forecasts in a Reuters poll for a drop to +10%.

For October, retailers expect a reading of -13%.

“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,” CBI economist Martin Sartorius said.

Reporting by David Milliken; Editing by Kate Holton

Our Standards: The Thomson Reuters Trust Principles.