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Retail sales remain depressed, but decline expected to ease
Retail sales volumes remained deeply depressed in the year to May, according to the CBI’s latest monthly Distributive Trades Survey. The pace of decline slowed a little compared with April (when retailers reported the joint-fastest drop since the start of the survey in 1983). And volumes are expected to fall at a slightly slower – but still historically fast — pace next month. The survey of 87 retailers found that orders placed with suppliers fell at a near-record pace in May. Stock levels in relation to expected sales rose to their highest balance since October 2019, prior to the Brexit deadline that month. ... (full story)