Retail sales fell at their fastest rate in more than a year in May, according to the CBI’s latest monthly Distributive Trades Survey. The survey of 69 retailing firms saw the steepest fall in annual sales since January last year – showing growth in retail activity has weakened persistently during 2013. Overall sales volumes remained below average for the time of year and orders fell faster than at any point since November 2011. The detailed findings show that grocery sales were broadly flat on a year ago, reversing last month’s rise. There were falls in sales across most other sub-sectors, including clothing and ... (full story)