Menu
04/05/2005
CBI reports retail sales drop
The volume of retail sales has fallen in the year to April, according to the CBI’s monthly Distributive Trades Survey.
The survey found that nearly half of retailers (46%) reported a drop in sales volume, compared to 32% who reported a rise in sales; a balance of -14%, compared with a figure of -9% in last month’s survey. The CBI said that this was the most significant year-on-year fall since July 1992 and came in spite of retailers’ expectations last month that sales would stabilise.
The CBI said that trading was poor in most sectors, with chemists, furniture and carpet retailers being the most badly affected. Clothing sales also fell for the first time since March 2004. However, the CBI said that household goods had a “strong showing”, probably due to the popularity of products such as I-Pods and DVDs. Booksellers and stationers and grocers were the only others of the eleven sectors to show sales growth.
Wholesalers had a “more positive outlook”, the CBI survey reported, with sales volumes stabilising over the year to April, contrasting with last month’s results, which were reported as “very weak”. However, sales still remained below average for the time of year.
Sales also continued to fall for motor traders, the CBI survey found, the eleventh successive month in which sales of new vehicles fell year-on-year. Sales of parts and accessories remained unchanged over the same period. CBI Chief Economic Advisor Ian McCafferty said that the figures were a reminder of the “highly competitive sales market which contributed in part to MG Rover’s collapse”.
Mr McCafferty said: “Tough trading conditions are continuing for most retailers, despite expectations last month that the position would stabilise. This ongoing decline in sales is likely to reflect the recent fall in real disposable incomes, higher fuel and utility bills, reduced activity in the housing market and higher mortgage rates than a year ago.”
Mr McCafferty added: “These results add further weight to the argument against a premature rise in interest rates.”
(KMcA/SP)
The survey found that nearly half of retailers (46%) reported a drop in sales volume, compared to 32% who reported a rise in sales; a balance of -14%, compared with a figure of -9% in last month’s survey. The CBI said that this was the most significant year-on-year fall since July 1992 and came in spite of retailers’ expectations last month that sales would stabilise.
The CBI said that trading was poor in most sectors, with chemists, furniture and carpet retailers being the most badly affected. Clothing sales also fell for the first time since March 2004. However, the CBI said that household goods had a “strong showing”, probably due to the popularity of products such as I-Pods and DVDs. Booksellers and stationers and grocers were the only others of the eleven sectors to show sales growth.
Wholesalers had a “more positive outlook”, the CBI survey reported, with sales volumes stabilising over the year to April, contrasting with last month’s results, which were reported as “very weak”. However, sales still remained below average for the time of year.
Sales also continued to fall for motor traders, the CBI survey found, the eleventh successive month in which sales of new vehicles fell year-on-year. Sales of parts and accessories remained unchanged over the same period. CBI Chief Economic Advisor Ian McCafferty said that the figures were a reminder of the “highly competitive sales market which contributed in part to MG Rover’s collapse”.
Mr McCafferty said: “Tough trading conditions are continuing for most retailers, despite expectations last month that the position would stabilise. This ongoing decline in sales is likely to reflect the recent fall in real disposable incomes, higher fuel and utility bills, reduced activity in the housing market and higher mortgage rates than a year ago.”
Mr McCafferty added: “These results add further weight to the argument against a premature rise in interest rates.”
(KMcA/SP)
Related UK National News Stories
Click here for the latest headlines.
04 June 2003
CBI survey reveals slowdown in retail sales
Trading conditions on UK high streets have improved but retail sales growth was modest compared with last year, according to the CBI's latest Quarterly Distributive Trades survey.
CBI survey reveals slowdown in retail sales
Trading conditions on UK high streets have improved but retail sales growth was modest compared with last year, according to the CBI's latest Quarterly Distributive Trades survey.
30 July 2003
Retailers boosted by later summer sales, says CBI
The warm weather and a later start to the summer sales gave retailers an "unexpected boost" in July, according to the CBI's latest monthly Distributive Trades Survey published today (Wednesday). Retailers had expected July to show the same modest sales growth as June but in fact sales grew at the fastest rate since April 2002, the CBI said.
Retailers boosted by later summer sales, says CBI
The warm weather and a later start to the summer sales gave retailers an "unexpected boost" in July, according to the CBI's latest monthly Distributive Trades Survey published today (Wednesday). Retailers had expected July to show the same modest sales growth as June but in fact sales grew at the fastest rate since April 2002, the CBI said.
29 May 2013
Retail Sales Fall Sharply In May
A survey by business group CBI has said UK retail sales fell at their fastest annual pace for 16 months in May. It added that sales of clothing and footwear fell from a year previously as consumers continued to cut back on their spending. Grocery sales remained flat over the same period.
Retail Sales Fall Sharply In May
A survey by business group CBI has said UK retail sales fell at their fastest annual pace for 16 months in May. It added that sales of clothing and footwear fell from a year previously as consumers continued to cut back on their spending. Grocery sales remained flat over the same period.
03 August 2004
Euro 2004 hangover hits retail sales, says CBI
The end of 'Euro 2004' football promotions and the impact of interest rate rises have been blamed by retailers for the unexpected slowdown in sales during July, according to the Confederation of British Industry (CBI).
Euro 2004 hangover hits retail sales, says CBI
The end of 'Euro 2004' football promotions and the impact of interest rate rises have been blamed by retailers for the unexpected slowdown in sales during July, according to the Confederation of British Industry (CBI).
29 June 2005
UK retail sales slump continues
UK retail sales suffered the worst fall in 22 years during June, the CBI has reported. According to the report, 42% of retailers said that their sales volumes had dropped over the year to June, while only 23% reported a rise in sales – a balance down 19%, compared with a 7% drop in May and 14% fall in April.
UK retail sales slump continues
UK retail sales suffered the worst fall in 22 years during June, the CBI has reported. According to the report, 42% of retailers said that their sales volumes had dropped over the year to June, while only 23% reported a rise in sales – a balance down 19%, compared with a 7% drop in May and 14% fall in April.
-
Northern Ireland WeatherToday:A dry day with long spells of sunshine for most, however eastern coasts will see rather more in the way of cloud at times, with just the risk of an odd light morning shower. Mainly light northerly winds. Maximum temperature 13 °C.Tonight:A fine end to the day with some evening sunshine. It remains dry overnight with a touch of frost possible in places, although cloud is expected to increase towards dawn. Minimum temperature 0 °C.
