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CBI Retail Sales Fell Faster Than Expected

UK DATA
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UK CBI volume of sales reported fell faster than expected to -24% in June (vs +8% prior, -4% expected), reversing the modest growth in May and making it the second lowest reading since January 2024.

  • Volume of sales are expected to fall again next month although at a slower pace than this month's print (-9%). This is following Official ONS retail sales coming in firmer than expected in May.
  • The fall in volume of sales was driven by a fall in volume of internet sales which printed -45% (vs -6% prior).
  • CBI Interim Deputy Chief Economist stated "Unseasonably cold weather in June may have played a role, but it’s notable that internet retail sales fell sharply in our survey, too."
  • The survey includes 139 respondents, of which 58 were retailers.
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UK CBI volume of sales reported fell faster than expected to -24% in June (vs +8% prior, -4% expected), reversing the modest growth in May and making it the second lowest reading since January 2024.

  • Volume of sales are expected to fall again next month although at a slower pace than this month's print (-9%). This is following Official ONS retail sales coming in firmer than expected in May.
  • The fall in volume of sales was driven by a fall in volume of internet sales which printed -45% (vs -6% prior).
  • CBI Interim Deputy Chief Economist stated "Unseasonably cold weather in June may have played a role, but it’s notable that internet retail sales fell sharply in our survey, too."
  • The survey includes 139 respondents, of which 58 were retailers.