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Financial News: UK Retail Sales Growth Eases Sharply In September:

UK Retail Sales Growth Eases Sharply In September: CBI

09/24/2021 - 06:48:00 (RTTNews)

(RTTNews) - UK retail sales grew at the slowest pace in six months in September, the latest Distributive Trades Survey data from the Confederation of British Industry showed on Friday.

The retail sales balance plunged to +60 percent in September from +11 percent in August. This was also below the expected level of 35 percent. Nonetheless, a net 29 percent forecast sales to improve next month.

Similarly, the retail order book balance declined sharply to 20 percent from 68 percent in August. A balance of 24 percent expected orders to rise in October.

Further, internet sales growth eased in the year to September and has been below the long-run average for five consecutive months, with a similar pace of growth expected in the year to October, the survey showed.

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