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- UK retail sales growth slowed noticeably in the year to October, following four consecutive months of firm sales growth during the summer - CBI
UK retail sales growth slowed noticeably in the year to October, following four consecutive months of firm sales growth during the summer - CBI
Retail sales growth slowed noticeably in the year to October, following four consecutive months of firm sales growth during the summer, according to the latest monthly CBI Distributive Trades Survey.
The survey of 104 firms, of which 45 were retailers, also showed that sales volumes were significantly below average for the time of year in October. Orders placed with suppliers fell, but are expected to rebound next month. Similarly, retailers expect sales growth to recover somewhat in November.
Within the retail sector, growth in sales volumes was reported only in the non-store (i.e. internet and mail order) and footwear & leather sub-sectors. Sales either stayed flat or fell elsewhere, with notable declines seen in the furniture & carpets, hardware & DIY, and other normal goods sub-sectors.
However, the picture on internet retail sales was more upbeat, with year-on-year growth in October speeding up to its quickest pace since January 2017. Internet sales are expected to expand at an even faster pace next month.
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