LONDON (dpa-AFX) - UK retailers expect sales to fall sharply in July, according to the Distributive Trades Survey results published by the Confederation of British Industry.
A net 46 percent of retailers said sales declined in June compared to 27 percent in May. The balance was forecast to rise to -24 percent. A net 49 percent expect sales to fall again next month.
Sales volumes for the time of year were judged to be 'poor' in June. About 37 percent said sales were poor, worse than -19 percent in May. A net 38 percent expect July's sales to fall short of seasonal norms to a broadly similar degree.
Online retail sales volumes increased slightly in June. The balance declined sharply to 6 percent from 37 percent in May. Online sales were expected to grow again next month, with the balance rising 8 percent.
'The contraction in retail was mirrored across wholesale and motor trades, with many firms reporting that consumer caution continues to hold back sales,' CBI Principal Economist Martin Sartorius said.
'These data suggest that underlying activity remains subdued in the distribution sector,' Sartorius added.
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