"Sentiment amongst retailers fell at the sharpest rate in 17 years, with a growing share of firms expecting their business situation to deteriorate over the coming quarter - according to the CBI's latest quarterly Distributive Trades Survey. Retail sales volumes fell at a fast pace in the year to November, extending a period of weakness that goes back to mid-2023. Retailers expect demand to remain subdued heading into December, with sales set to fall again, albeit at a somewhat slower pace."
"With demand still weak and uncertainty mounting ahead of the Budget, retailers plan to pull back on both investment and hiring. Investment intentions remain historically weak and have now been negative for three-and-a-half years. In the near-term, firms also expect to trim headcount at a slightly faster pace next month. The CBI found that retail sales volumes fell at a fast pace in the year to November (weighted balance of -32% from -27% in October) but are expected to decline at a somewhat slower rate next month (-24%)."
Retail sales volumes fell at a fast pace in the year to November, with a weighted balance of -32% compared with -27% in October. Sales are expected to decline at a somewhat slower rate next month (-24%). By seasonal standards November sales were judged poor (-25%), worse than October (-15%), and December is set to underperform seasonal norms (-18%). Sentiment among retailers worsened to -35% from -10% in August, the weakest in 17 years. Investment intentions remain historically weak at -42%, negative for three-and-a-half years. Employment declined -19% and headcount is expected to fall -23% next month. Selling price inflation slowed to +46% from +65% in August.
Read at London Business News | Londonlovesbusiness.com
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