Retailers reported that growth in sales volumes picked up in the year to June, according to the latest monthly CBI Distributive Trades Survey
The survey of 115 firms, of which 59 were retailers, showed that the volume of sales and orders placed upon suppliers grew modestly – exceeding expectations in both cases – in the year to June. Internet sales volumes also picked up in the year to June, with growth broadly in line with the long-run average, but retailers expect somewhat slower growth in the year to July.
“The start of summer has seen shoppers hit the high street, lifting sales – if only modestly," says Anna Leach, CBI Head of Economic Intelligence. "However, there’s no getting away from the fact that life is getting tougher, with retailers clearly cautious over the near-term outlook. The new Government must now look to picking up the pace of delivery of much-needed reform. Retailers will want to see a full review of the distorted Business Rates system sooner rather than later.”
Key findings found: