British retail sales growth slowed in August at the fastest pace in more than a year as the squeeze on consumers from rising prices continued, according to a survey on Thursday.The Confederation of British Industry’s (CBI) monthly retail sales balance slid to -10 in August from +22 last month, its lowest since July 2016 – just after Britons voted to leave the European Union.The reading was far below even the lowest forecast in a Reuters poll of economists, all of whom expected only a modest slowdown in growth.While retailers expected sales to pick up again next month, they were downbeat about the current business situation.
Source: UK shop sales slide unexpectedly in August, retailers’ mood downbeat – CBI
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Craig Erlam
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