UK Retail Sales Fall for 12th Month: CBI

The CBI Distributive Trades Survey recorded a weighted balance of -29%, little changed from August’s -32% and below market expectations of -26%, with retailers expecting a deeper fall next month (-36%). Annual sales volumes have now fallen for a full year, highlighting the persistently weak demand conditions facing the sector. Sales for the time of year were again judged “poor,” and October’s outlook is even weaker. Online sales volumes swung lower (-24% vs +3% in August), while wholesale sales also fell faster. Motor trades saw the steepest drop (-67%). Total distribution sales volumes fell at a faster pace in September (-35%), though the decline is expected to ease in October. CBI economist Martin Sartorius said weak demand, US tariffs, and high business taxes continue to weigh on the sector, urging the government to avoid further burdens in the Autumn Budget to restore confidence.