LONDON
,
September 26, 2022
(press release)
–
Retail sales volumes fell at a considerable pace in the year to September, following a temporary return to growth in August, according to the latest CBI Distributive Trades Survey. Retailers expect sales volumes to continue to fall next month, but at a slower rate. Martin Sartorius, CBI Principal Economist, said: “Following a brief return to growth last month, retail sales volumes have once again fallen in the year to September, as the cost-of-living crisis continues to weigh on households’ spending. Retailers remain pessimistic about the outlook, with sales expected to fall again next month. “The Government’s announcements this week to support firms on energy costs and setting out their pro-growth agenda should help instil confidence. Businesses are ready to work hand-in-glove with the Government to create broad-based economic growth.”
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