UK retailers report smallest downturn in sales in six months during July – CBI
- UK July retail sales balance -26
- Prior -54
- UK expected retail sales for August -26
- Prior -45
The headline retail sales balance for July is the highest since January while the expected sales for the month ahead in August also climbs to its highest since March. Besides that, the volume of retail sales for this time of the year was reported to be below normal by the smallest amont since February. So, that's some added good news despite the still negative readings above.
Do keep in mind though that the CBI retail sales data tends to be a bit more downbeat as compared to the BRC data and/or the ONS typically. So, there's that to account for too when viewing the readings. You can even see that with the ONS retail sales data for June that was reported last week here.
In any case, the marked improvement for sentiment in July will be a welcome development if translated to hard data down the road. However, CBI warns not to get too carried away with the latest numbers:
"Retailers reported that the ongoing sales downturn lost steam in July, but a recovery still looks some way off as gloomy sentiment and elevated cost pressures weigh on activity."
This article was written by Justin Low at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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