By
Reuters
Revealed
January 24, 2025
Reuters
The Confederation of British Trade’s month-to-month gauge of retail gross sales fell in January to -24 from -15 in December, the bottom studying since August final 12 months.
The survey’s gauge of anticipated gross sales for the month forward fell to -26 from -11 in final month’s survey.
A separate survey from GfK printed earlier on Friday confirmed a giant drop in client confidence this month.
“Retailers cited weak demand and downbeat sentiment as continuing strains on business conditions,” mentioned Martin Sartoius, principal economist on the CBI.
“The combination of a faster fall in retail sales volumes and firm declines in wholesale and motor trades resulted in the total distribution sector seeing the sharpest annual sales drop in a year.”
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