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UK retail sales growth slows to 6-month low in Sept - CBI

UK shoppers, hit by fuel crisis, turn more cautious on spending
UK shoppers, hit by fuel crisis, turn more cautious on spending   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">LONDON</span> – British retailers reported much slower growth in September after strong demand over the summer months, though shops expect a rebound in October despite growing supply chain difficulties, the Confederation of British Industry said on Friday.</p> <p>The <span class="caps">CBI</span>’s monthly distributive trade survey showed the headline sales balance for retailers tumbled to +11 in September from +60 in August, its lowest level since March and below all forecasts in a Reuters poll of economists.</p> <p>“Low stock adequacy remains a concern across the distribution sector,” <span class="caps">CBI</span> economist Ben Jones said. </p> <p>“Respondents to our survey have told us that they do not expect the transport and production issues that are causing these shortages to ease significantly until at least next year and, in some cases, beyond,” he added.</p> <p/> </div>