Weak retail sales figures are expected to continue into October following a difficult September.
New figures released today by the Confederation of British Industry (CBI), say that a greater percentage of retailers predict that year-on-year trading will be down next month compared to those who foresee an annual rise in customer spending in their stores.
CBI’s Distributive Trades Survey shows that in September, only 24% of retailers experienced an increase in sales, while 39% reported a drop. The balance of -15% is the worst recorded annual comparison since May 2010.
It is now less than 100 days until Christmas, and this is traditionally retailers’ most profitable period, but it seems festive spending is being put on hold this year.