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Apparently poor weather this time around. I thought that was January's excuse ... are they running out of excuses?

Poor weather and price rises sent high street sales tumbling in the early part of this month, heightening fears that consumers are tightening their purse strings as they brace themselves for house price falls, tax rises and pay squeezes.

The survey by business group the CBI showed the monthly sales balance slid to -18 in May, the lowest in more than a year. The reading indicated a fall in overall sales on a year ago, as 48% of respondents said sales were lower and a smaller 30% reported a rise, giving the balance of -18. That defied expectations for growth – retailers had pencilled in a +17 reading and economists were looking for +12.

The hardest-hit subsectors included chemists and DIY, while clothing sales were also down after three months of continuous growth.

"These retail sales figures for the early part of May are clearly disappointing, with many sectors failing to achieve higher sales than a year ago," said the CBI's chief economic adviser, Ian McCafferty.

"Unseasonal poor weather at the start of the month is likely to have dented clothing sales, while some signs of slowing momentum in the housing market may help to account for the renewed weakness in sales of big-ticket items and other household goods."

Other signs of pain in the retail sector were a fall in orders that shops placed with suppliers and a drop in employment.

Retailers are also negative about next month, with a balance of -15 indicating that another fall in volume of sales is expected.

"It appears that shoppers are feeling the pinch again and are being cautious with their purchases, given the squeeze to real incomes from higher prices and only a modest rise in average pay," said McCafferty.

Despite falling sales and gloomy outlook there were signs that retailers were continuing to raise their prices. A balance of 49 put their prices up

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heightening fears that consumers are tightening their purse strings

Do they only do that when the weather is bad then? Good job it's so sunny in December then, Xmas would be a washout for retailers otherwise.

Why not blame the election? Or a fluctuation in the earth's magnetic field? Or the return of "Britain's Got Idiots"?

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sales will slump again next month and it will be blamed on the world cup

always some excuse just around the corner :lol:

Yes, I was thinking the same. If England win it will be bad for saes, if they lose it will be bad for sales and just the very exhistance of the WC will be bad for sales. What a joke!

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Poor weather and price rises sent high street sales tumbling in the early part of this month

But rising prices are a good thing. It's reducing prices that we must fight tooth and nail to avoid. If prices fall, people will put off their purchases. <_<

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Given up shopping at the shopping centers....bl***y depressing places...stress driving there, stress parking, a stressful degrading experience altogether.....nothing they sell I want anyway. ;)

soulless places, once you are inside the front door you could be anywhere in the world,

and you can't haggle,

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The banks have got to start lending again like it's 2007 again so that the consumer can keep borrowing and spending , the consumer must be kept suckling on the teat of debt so that growth can be achieved .... let's not forget debt is wealth B)

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Since when has it been a right for retailers to make a guaranteed profit? Its a privilege not a right, everyone else is accepting lower living standards therefore shareholders should be prepared to take the rough with the smooth and be content to just keep the business ticking over for the time being.

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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