Sumary of June UK retail sales dip again, July looks flat – CBI:
- Ben Jones, its Lead Economist, said: Retail volumes are try as high inflation eats away at users’ budgets.
- There are also broad signs that a downturn in user spending is start to wave out across the wider distribution sector, with wholesalers seeing a 14-month period of beefy sales growth come to a grinding inaction this month.
- The squeeze on household incomes appears to have equilibrium any raise to activity from the extended Platinum Jubilee bank holiday earlier this month.
- Retailers said their sales volumes slipped in the year to June for an equilibrium of -5%, from -1% in May.