UK Aug Retail Sales Fall; Worse Than Expected - CBI

-UK Aug Retail Sales Reported Balance -10 Vs +22 July 

By David Robinson

     LONDON (MNI) - UK retailers saw volume balance shrink in August, falling

short of expectations, in the CBI's Distributive Trades Survey.

     The CBI August reported sales volume balance fell to -10 from 22 in July

and 12 in June and way below the survey's prior expected balance of 20.

Retailers anticipated a better September, with a 19 balance expected for next

month.

     The monthly CBI retail balances are volatile. The underlying three month

sales volume balance fell to 8 in August from 12 in July, which would chime with

the story of shrinking real incomes hitting spending.

     The volume of sales for the time of year balance in August was -10 compared

to 6 in July, with orders placed upon suppliers -24 down from 10 in July.

     The quarterly CBI survey showed a marked decline in employment in the

retail sector in the three months through August, with the balance falling to

-35 from -23 in May.

--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com

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