rki.news | Source Xinhua
LONDON, Sept. 25 — Britain’s retail sector weakened further in September as falling consumer confidence and rising costs put additional pressure on businesses, according to a Confederation of British Industry (CBI) report released Thursday.
Retail sales volumes declined at a faster pace, while online sales recorded their sharpest fall in almost three years. Retailers also reduced order volumes at the fastest rate recorded by the survey since 1983.
CBI lead economist Martin Sartorius said weak consumer sentiment and declining sales were contributing to the downturn, with wholesalers and motor traders also reporting faster declines.
Retailers expect sales and online activity to remain weak in October.
Consumer confidence also deteriorated, according to a British Retail Consortium survey. Expectations for the wider economy fell to minus 34 in September from minus 28 in August, while household financial expectations dropped to minus 15 from minus nine.
Rising household costs are adding to pressure. Britain’s consumer price index increased 3.1 percent year-on-year in August, while the Bank of England expects inflation to remain elevated into 2027.
Retailers and consumers are adjusting spending patterns as higher food, energy and other household costs continue to weigh on purchasing decisions.
UK Retail Sales Weaken Further Amid Consumer Confidence
