UK Retail Sales Growth Slows to Six-Month Low in Oct – CBI

British retail sales grew at the slowest rate in six months in October after recording strong growth the month before, a survey by the Confederation of British Industry showed on Thursday.

The CBI distributive trades survey’s sales balance dropped to +19 from a four-month high of +49 hit in September, the lowest balance since April and the biggest one-month fall in the index since February.

The expected sales balance for November also fell sharply to +24 from the level of +51 which stores had expected for October.

“Growth in sales and orders for high street retailers remains resilient, but there has been a slight slowdown in the pace of that growth following a strong September,” CBI director of economics Rain Newton-Smith said.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.