Finance
UK Retailers Post Big Drop in Sales, Cbi Says
Published by Global Banking & Finance Review®
Posted on January 24, 2025
1 min readLast updated: January 27, 2026
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Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on January 24, 2025
1 min readLast updated: January 27, 2026
Add as preferred source on GoogleUK retailers experienced a sharp sales drop in January, with no improvement expected. CBI's survey indicates weak demand and low consumer confidence.
(Reuters) - British retailers reported a sharp drop in sales volumes during the year to January and they expect no improvement next month, an industry survey showed on Friday which added to a run of glum news on the economy.
The Confederation of British Industry's monthly gauge of retail sales fell in January to -24 from -15 in December, the lowest reading since August last year.
The survey's gauge of expected sales for the month ahead fell to -26 from -11 in last month's survey.
A separate survey from GfK published earlier on Friday showed a big drop in consumer confidence this month.
"Retailers cited weak demand and downbeat sentiment as continuing strains on business conditions," said Martin Sartoius, principal economist at the CBI.
"The combination of a faster fall in retail sales volumes and firm declines in wholesale and motor trades resulted in the total distribution sector seeing the sharpest annual sales drop in a year."
(Reporting by Andy Bruce; Editing by William Schomberg)
The article discusses the significant drop in UK retail sales as reported by the CBI, highlighting weak demand and consumer confidence.
The CBI survey showed a sharp decline in retail sales volumes, with the gauge falling to its lowest since August.
Consumer confidence has also dropped significantly, contributing to the weak demand and downbeat sentiment in the market.
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