Retail sales volumes fell sharply in June, marking the ninth consecutive month of decline according to the CBI Distributive Trades Survey. Retailers anticipate further decreases in July, reflecting poor sales figures that were notably worse than those reported in May. Although online retail experienced slight growth, overall distribution sales, including wholesale, contracted significantly. This downturn highlights ongoing consumer caution and points to the need for strategic investments in skills and regulatory improvements to stimulate long-term growth in the retail and distribution sectors.
Retail sales volumes fell rapidly in the year to June, extending the recent downturn into its ninth consecutive month.
The contraction in retail was mirrored across wholesale and motor trades, with many firms reporting that consumer caution continues to hold back sales.
These data suggest that underlying activity remains subdued in the distribution sector.
The Industrial Strategy, therefore, comes at a critical time, setting out a credible plan to boost long term growth.
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