Distributive Trades Survey: CBI
- Retail sales fell at their fastest rate in more than a year in May
- The steepest fall in sales since January last year – showing retail activity has weakened persistently during 2013.
- Overall sales volumes remained below average for the time of year and orders fell faster than at any point since November 2011.
- Grocery sales were broadly flat on a year ago, reversing last month’s rise. Falls in sales across most other sub-sectors, including clothing and footwear.
- Retailers are reporting a slightly brighter outlook, expecting sales to rise modestly next month and the business situation to improve over the next quarter.
- Firms are planning to scale back their investment for the year ahead – with investment intentions now the weakest since the start of last year.