FOREX TradingCharts.com

Financial News: UK Retailers Expect Sales To Fall In July:

UK Retailers Expect Sales To Fall In July: CBI

06/23/2022 - 07:42:00 (RTTNews)

(RTTNews) - UK retailers expect sales to fall again in July amid cost of living crisis, the Distributive Trades Survey results from the Confederation of British Industry showed on Thursday.

A net balance of 5 percent reported a decline in retail sales volumes in June compared to -1 percent in May. A net 2 percent expected sales to drop again in July.

A net 19 percent of retailers said sales were seen as poor for the time of year in June compared to zero in May. A net 25 percent expected sales to remain below seasonal norms in July.

Retail volumes are struggling as high inflation eats away at consumers' budgets, Ben Jones, lead economist at the CBI, said. The squeeze on household incomes appears to have offset any boost to activity from the extended Platinum Jubilee bank holiday earlier this month.

The survey showed that growth in wholesale volumes slowed sharply in the year to June. The corresponding balance plunged to +4 percent from +30 percent.

"There are also clearer signs that a downturn in consumer spending is beginning to ripple out across the wider distribution sector, with wholesalers seeing a 14-month period of robust sales growth come to a grinding halt this month," Jones added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Trade Data Due On Thursday (06 min(s), 28 sec(s) ago)
(RTTNews) - Australia will on Thursday release May figures for imports, exports and trade balance, ...Full Story»

Romania Central Bank Raises Key Rate Further (07 hr(s), 18 min(s), 28 sec(s) ago)
(RTTNews) - Romania's central bank raised its monetary policy rate more than expected on Wedne ...Full Story»

Egypt Non-Oil Private Sector Activity At 2-Year Low (09 hr(s), 09 min(s), 28 sec(s) ago)
(RTTNews) - Egypt's non-oil private sector activity deteriorated at the fastest pace in two ye ...Full Story»

Ireland Jobless Rate Rises Slightly In June (09 hr(s), 19 min(s), 28 sec(s) ago)
(RTTNews) - Ireland's unemployment rate increased marginally in June, after falling in the pre ...Full Story»

Taiwan Inflation Highest Since August 2008 (09 hr(s), 52 min(s), 28 sec(s) ago)
(RTTNews) - Taiwan's consumer price inflation accelerated at a faster-than-expected pace in Ju ...Full Story»

Malaysia Central Bank Hikes Rate Again By 25 Bps (10 hr(s), 19 min(s), 28 sec(s) ago)
(RTTNews) - Malaysia's central bank raised its key interest rate by a quarter-point for the se ...Full Story»

Hungary Industrial Output Growth At 6-Month Low; Retail Sales Grow Strongly (10 hr(s), 36 min(s), 28 sec(s) ago)
(RTTNews) - Hungary's industrial production expanded at the weakest pace in six months in May, ...Full Story»

Eurozone Retail Sales Rebound Less Than Forecast (11 hr(s), 56 min(s), 28 sec(s) ago)
(RTTNews) - Eurozone retail trade recovered at a slower-than-expected pace in May, figures from Eu ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Trade Data Due On Thursday

07/06/2022 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Thursday release May figures for imports, exports and trade balance, ...Full Story>>

Romania Central Bank Raises Key Rate Further

07/06/2022 - 10:48 AM (RTTNews)
(RTTNews) - Romania's central bank raised its monetary policy rate more than expected on Wedne ...Full Story>>

Egypt Non-Oil Private Sector Activity At 2-Year Low

07/06/2022 - 08:57 AM (RTTNews)
(RTTNews) - Egypt's non-oil private sector activity deteriorated at the fastest pace in two ye ...Full Story>>

Ireland Jobless Rate Rises Slightly In June

07/06/2022 - 08:47 AM (RTTNews)
(RTTNews) - Ireland's unemployment rate increased marginally in June, after falling in the pre ...Full Story>>

Taiwan Inflation Highest Since August 2008

07/06/2022 - 08:14 AM (RTTNews)
(RTTNews) - Taiwan's consumer price inflation accelerated at a faster-than-expected pace in Ju ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.