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03/07/2002
UK retail sales growth slowest for 18 months
Retail sales grew at the slowest rate for 18 months in the year to June according to the latest CBI figures published on Wednesday July 3.
The CBI said the findings support the May survey which suggested a slowdown in the growth of spending was starting to take effect.
Comparing sales with a year earlier, 45 per cent of firms said sales were up while 29 per cent said they were down. The balance of plus 16 in June compares with plus 25 per cent in May and plus 57 per cent in April.
Retailers continue to be optimistic about the month ahead, though this is the second consecutive survey in which sales expectations have not been fulfilled. The balance of plus 16 recorded for sales volumes in June is well below the expected plus 35 per cent.
(MB)
The CBI said the findings support the May survey which suggested a slowdown in the growth of spending was starting to take effect.
Comparing sales with a year earlier, 45 per cent of firms said sales were up while 29 per cent said they were down. The balance of plus 16 in June compares with plus 25 per cent in May and plus 57 per cent in April.
Retailers continue to be optimistic about the month ahead, though this is the second consecutive survey in which sales expectations have not been fulfilled. The balance of plus 16 recorded for sales volumes in June is well below the expected plus 35 per cent.
(MB)
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Retail sales down for first time in 20 months
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