UK Retailers Expect Sales To Fall Further In October: CBI

(RTTNews) - UK retailers expect sales to decline at a steeper pace in October, highlighting the persistent weak demand conditions, the Distributive Trades Survey from the Confederation of British Industry showed on Thursday.

A net 36 percent of retailers expect sales to decrease in October. Although the retail sales balance rose to -29 percent in September from -32 percent in August, it remained negative for the twelfth straight month.

A net 13 percent of retailers judged that sales were "poor" in September compared to -19 percent in August.

Further, the survey showed that October's sales are set to disappoint as the balance for next month declined to -43 percent.

Online retail sales volumes also declined sharply in September. The corresponding balance plunged to -24 percent from +3 percent in August. About 19 percent forecast online sales to fall again next month.

CBI Principal Economist Martin Sartorius said, "Weak demand continues to weigh on sales, while US tariffs are adding pressure for some retailers."

"Lacklustre economic conditions are also affecting the wider distribution sector, with wholesalers and motor traders seeing fast sales declines in September," Sartorius added.