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.


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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam