UK retailers reported a slower pace of growth in sales volumes in September and expect it to remain so again next month, the latest Distributive Trades Survey from the Confederation of British Industry showed Wednesday.
The retail sales balance fell to 23 percent in September from 29 percent in August. Retailers forecast sales growth to slow slightly next month, with the balance easing to 19 percent.
Further, the survey showed that the volume of orders placed upon suppliers was flat in the year to September. Firms anticipate that orders growth will remain almost unchanged next month. The corresponding order balance came in at -2 percent.
“Policymakers must be conscious that times are harder for retailers than recent data suggests,” Anna Leach, CBI Head of Economic Intelligence, said.
“With the burden of business rates stifling investment – against the backdrop of an already tough trading environment – the Government must deliver a review of the system over the coming year.”