LONDON (dpa-AFX) - UK retailers reported another sharp decrease in sales in July, the latest Distributive Trades Survey results from the Confederation of British Industry showed on Monday.
A net 34 percent of retailers said sales declined in July compared to 46 percent in June. A net 31 percent expects sales to fall again in August.
A balance of 10 percent judged sales for the time of year as poor but better than 37 percent in June.
On the other hand, online retail sales volumes increased in July, marking the third straight month of expansion. That said, the balance fell to 4 percent from 6 percent in June. A net 4 percent expects sales to grow in August.
'Firms reported that elevated price pressures - driven by rising labour costs - and economic uncertainty continue to weigh on household demand, which has contributed to sales volumes falling since October 2024,' CBI Principal Economist Martin Sartorius said.
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