SALES GROWTH SLOWS DOWN

Yorkshire Post - Business - - BUSINESS / NEWS -

■ Bri­tish re­tail sales growth slowed more than ex­pected in Oc­to­ber as con­sumers re­trenched af­ter a sum­mer shop­ping spree driven by warm weather and the Eng­land team’s suc­cess at the World Cup.

■ The Con­fed­er­a­tion of Bri­tish In­dus­try’s monthly re­tail sales gauge fell to +5 in Oc­to­ber from Septem­ber’s +23, its weak­est level since April.

■ A Reuters poll of econ­o­mists had pointed to a much smaller de­cline to +20.

■ CBI econ­o­mist Alpesh Paleja said: “Re­tail sales have be­gun to cool, as the boost from the sum­mer heat­wave and World Cup cel­e­bra­tions fades away.

■ “The dou­ble whammy of the slug­gish re­cov­ery in house­hold in­comes and dig­i­tal dis­rup­tion is mak­ing trad­ing con­di­tions tough, and prompt­ing a deeper struc­tural shift in busi­ness mod­els.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.