Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

UK retail sales fall in May after April rise, outlook less gloomy: CBI

UK retail sales fall in May after April rise, outlook less gloomy: CBI

LONDON (Reuters) – British retail sales declined this month after a modest rise in April but stores expect sales volumes to stabilise in June as consumer confidence improves and energy prices fall, a survey showed on Thursday.

The Confederation of British Industry’s (CBI) monthly distributive trades index fell to -10 in May from +5 in the previous month.

A measure of expected sales in the month ahead rose to zero from -7.

Martin Sartorius, principal economist at the CBI, said retailers had some reason to be optimistic about the outlook.

“Consumer sentiment has been improving and households’ energy bills are set to decline from July,” Sartorius said.

“The resulting boost to incomes should help support retail sales going into in the second half of this year.”

Retailers also reported acute price pressures, with price growth in the 12 months to May remaining near multi-decade highs. Shops expect prices to rise at the same pace next month.

Britain’s high inflation rate fell by less than expected to 8.7% in April, down from 10.1% in March, and a 41-year peak of 11.1% in October last year.

However, consumer price inflation remains above the Bank of England’s 2% target and analysts now expect the central bank, which has raised interest rates 12 times in a row since December 2021, to increase Bank Rate further.

The CBI said retail employment fell for the third quarter running, down to -48 in the year to May, the biggest drop since February 2009.


(Reporting by Suban Abdulla, editing by Andy Bruce)


Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post