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Financial News: UK Retail Sales Volume To Remain Flat Next

UK Retail Sales Volume To Remain Flat Next Month: CBI

07/25/2018 - 06:19:00 (RTTNews)

(RTTNews) - UK retail sales volume and orders are expected to flatten out next month following a healthy growth in July, the Distributive Trades Survey from the Confederation of British Industry showed Wednesday.

A net balance of 20 percent reported a rise in sales volume in July from a year ago, which was above the expected level of 15 percent.

Meanwhile, 14 percent of retailers said sales volume will rise in August and another 14 percent forecast a decrease, resulting in a balance of zero.

"While the heatwave has boosted retail sales in recent months, we may be seeing some early signs of a cooling off, with orders falling in the year to July and retailers expecting no growth in sales next month," Alpesh Paleja, CBI principal economist, said.

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