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- UK retail sales volumes unexpectedly rise in September - CBI
UK retail sales volumes unexpectedly rise in September - CBI
The
Confederation of British Industry (CBI) reported on Thursday its latest survey
of retailers showed retail sales volume balance stood at 11 in the year to September,
up significantly from -6 in August. That was the highest reading since April
2019. Grocers were the primary driver of the expansion, with the overwhelming
majority reporting rising sales volumes.
Economist had
forecast the reading to decrease to -10.
However, retail
sales volumes are expected to remain flat in October (0).
The report also
revealed that orders placed on suppliers dropped for the 11th straight month
(balance of -14, from -27) and are expected to decline again in the year to
October (-3). Meanwhile, stock levels in relation to expected sales eased to their
lowest balance since March (balance of +11, from +19) and are expected to ease
further next month (+2).
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