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UK retail sales growth slows to 6-month low in Sept

by Mike Robinson

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© Reuters. FILE PHOTO – Shoppers walk along Oxford Street in London on August 14, 2016. REUTERS/Peter Nicholls/File Photo

LONDON (Reuters) – British retailers reported much slower growth in September after strong demand over the summer months, though shops expect a rebound in October despite growing supply chain difficulties, the Confederation of British Industry said on Friday.

CBI’s distributive trade survey for September showed that the retail sales balance dropped to +11 from +60 in August. It was at its lowest point since March, and it is below all predictions in a Reuters poll.

CBI economist Ben Jones indicated that low stock adequacy is still a problem in the distribution industry.

According to Jones, respondents to our survey said they don’t expect transport and production problems that cause these shortages will improve much until next year or beyond.

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