Retail sales volumes fell at a slower pace in the year to July, with the weighted balance rising to -26 per cent from -54 per cent in June, according to the CBI’s monthly Distributive Trades Survey published on Monday.
Retailers expect sales volumes to decline at a similar rate in the year to August, at -26 per cent.
The survey was conducted between 26 June and 14 July, with 191 firms responding: 67 retailers, 105 wholesalers and 19 motor traders.
Retailers separately judged July’s sales to be poor for the time of year, though to a lesser degree than in June, at -18 per cent against -40 per cent. August’s sales are expected to fall short of seasonal norms by a wider margin, at -29 per cent.
Online retail sales volumes fell in the year to July at a balance of -47 per cent, from zero in June. Retailers expect internet sales to fall at a similar rate in August, at -48 per cent.
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