CBI Sales Recovered in July

Reported Sales Volume: +4%; Prev(Jun): -37%
Expected Sales Volume (Aug): -5%; Prev(Jul): -48%
Reported Orders Volume: -14%; Prev(Jun): -42%
Expected Orders Volume (Aug): -14%; Prev(Jul): -44%

• Retail sales rebounded in July, showing the first positive rate since Feb.
• Sales plunged in Apr and only improved marginally in May and Jun
• Orders placed upon suppliers ticked up to a 5-month high, while expected
  orders for Aug remain at Jul's level
• Grocers again led the uptick in sales, followed by retailers of
  hardware & DIY products and other "normal products"
  (e.g. cards, flowers, stationary, etc)
• The survey pointed out that sales of non-essential retail stores remained
  significantly down compared to a year ago, despite the reopening of shops
• They further noted that sales are expected to dip slightly in the year to Aug