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Retail sales slump deepens in August - CBI Distributive Trades Survey
Retail sales volumes fell in the year to August for a fourth consecutive month, and at the fastest pace since March 2021, according to the latest quarterly CBI Distributive Trades Survey. Sales are expected to contract again next month, albeit at a slower pace. The key survey findings included: • Retail sales volumes in the year to August fell at the fastest pace since March 2021. (weighted balance of -44% from -25% in the year to July). Sales are expected to continue to contract next month, but at a slower pace (-21%). • Retailers anticipate a moderate deterioration in their business situation over the next ... (full story)