LONDON (dpa-AFX) - UK retailers reported a decline in sales for the third consecutive month in July, marking the longest period of decline since 2011, survey data from the Confederation of British Industry showed Thursday.
According to monthly Distributive Trades survey, the retail sales balance fell to -16 percent in July from -42 percent in June.
Nonetheless, only a balance of 3 percent expects a decrease in sales volume next month.
The survey showed that 25 percent of retailers placed more orders with suppliers than they did a year ago, while 43 percent placed fewer orders, giving a rounded balance of -19 percent compared to -33 percent in June.
'The UK economy has reached a fork in the road,' Rain Newton-Smith, CBI chief economist, said. 'The new Prime Minister must now do everything in his power to achieve a good Brexit deal, thus protecting jobs and our economy.'
Copyright RTT News/dpa-AFX
© 2019 AFX News
