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Retail Sales Slide At Worst Rate For 25 Years

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High street trading this month fell to its worst levels in a quarter of a century, an influential survey showed yesterday. In the latest indication that consumers are avoiding the high street, a key gauge of retail conditions from the CBI pointed to sales plunging on a scale not seen since the early Eighties.

The survey said that 61 per cent of retailers had reported that sales in the first half of this month were down compared with a year earlier, against 25 per cent who said that sales were up year-on-year.

The resulting headline balance of minus 36 per cent of retailers reporting increased sales was the weakest since the CBI began to monitor high street trading in 1983 and drastically down from a reading of minus 9 per cent for last month.

City economists said that the findings were consistent with official retail sales figures for this month showing a year-on-year drop - something that has not been seen since the early Nineties. Annual growth in retail sales volumes tumbled in official data for June to only 2.2 per cent, from a buoyant 8 per cent in May.

Cont. : http://business.timesonline.co.uk/tol/busi...icle4425952.ece

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  • 395 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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