2023.06.2612:57:00UTC+00British Retailers Expect Sales To Stabilize In July: CBI

UK retailers expect sales volumes to stabilize next month after difficult trading environment dampened sales in May and June, the Distributive Trades Survey results from the Confederation of British Industry showed on Monday.

A net 9 percent of retailers said sales volume declined in June. But this was slightly better than the 10 percent reporting fall in May. The survey showed that retailers expect sales to remain flat in July.

"Households' finances are still under pressure from high inflation, which means that demand conditions for retailers are likely to remain challenging in the coming months," CBI Principal Economist Martin Sartorius said.

After falling in May, a net 26 percent of retailers said internet sales volume increased in June. A net 27 percent said sales volume will grow again next month.

About 1 percent of retailers reported that sales were 'average' for the time of year but a net 2 percent forecast sales to fall next month in line with the seasonal norms. The survey was conducted among 140 companies.