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UK Retailers See Only Slight Slowdown After Strong Summer: CBI

By Steve Wynne-Jones
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UK Retailers See Only Slight Slowdown After Strong Summer: CBI

British retail sales growth slowed in September after a booming summer but remained strong, a survey has shown, adding to signs that Britain's consumers are not cutting back sharply on their spending as Brexit nears.

The Confederation of British Industry's (CBI) monthly retail sales gauge fell back to +23 from +29 in August. A Reuters poll of economists had pointed to a bigger fall to +16.

Spending by consumers has helped to offset a broader slowing in Britain's economy since the 2016 Brexit vote.

"As we head into autumn, retailers have seen the run of decent sales figures continue," Anna Leach, the CBI's head of economic intelligence, said.

"But underlying conditions are clearly tougher, with the sector facing significant challenges – from squeezed household incomes, changing consumer habits to digital disruption."

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Retailers said they expected a further slight slowdown in sales in October, the CBI said.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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