UK retail sales grew at the fastest pace in nine months in June, the latest Distributive Trades survey from the Confederation of British Industry showed Wednesday.
A balance of 32 percent of retailers said sales volumes increased in June and a net 20 percent said they placed more orders with suppliers than they did a year ago.
Retail sales growth was fairly broad-based across retail sub-sectors. However, looking ahead, retailers expect growth in sales volumes and orders placed on suppliers to ease in the year to July. Only a balance of 18 percent expects sales volume to increase in July.
“While today’s findings will bring some summer cheer to retailers, underlying conditions for the sector remain challenging – household spending remains under pressure from the slow recovery in real wage growth and the sector is still grappling with key structural changes like digital transformation,” Anna Leach, CBI head of economic intelligence, said.