CBI finds retail sales falling in October

Retail sales fell in the year to October, at a similar pace to August and September, according to the latest CBI Monthly Distributive Trades Survey.

Looking to next month, retailers expect some very modest growth, the UK’s leading business organisation said.
A quarter (24 per cent) of companies saw sales volumes rise on a year ago, while 36 per cent reported a fall, giving a rounded balance of -11 per cent. This was broadly the same as last month (a balance of -15 per cent).
The volume of sales was poor for the time of the year (-34 per cent), and was the lowest since May 2009 (-36 per cent).  Sales volumes in most sub-sectors declined: there were particularly rapid falls in footwear & leather (-98 per cent), hardware & DIY (-75 per cent) and clothing (-39 per cent).
But the grocery and furniture and carpets sectors saw their sales volumes increase on a year ago (+11 per cent and +34 per cent respectively), compared to (-3 per cent and -59 per cent) last month.

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