Retail sales fall sharply in March as weak confidence hits consumer spending

UK retailers have reported a significant drop in sales, with the latest CBI survey indicating a decline for the sixth month in a row. This drop reflects fragile consumer confidence amid rising costs and economic uncertainty. Martin Sartorius from CBI noted that retailers are facing challenges from global trade tensions and government policies. He emphasized the need for government actions to boost business confidence and investment. Although sales volumes are expected to decline again in April, the pace may slow. Overall, the retail sector is facing ongoing pressures, highlighting deeper economic issues.

The ongoing drop in sales, highlighted by a recent CBI report, underscores how fragile consumer confidence is impacting retail performance across the UK.

In March, annual retail sales fell significantly, marking six consecutive months of decline and reflecting the pressures on both consumers and businesses.

Read at Business Matters