UK retail sales fall most since April in September; order cuts largest since records began, CBI says
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A survey published by the Confederation of British Industry on the 24th found that UK retail sales in September suffered their biggest drop since April, while orders placed by retailers with suppliers fell by the largest amount since records began in 1983. The index measuring activity compared with the same month a year earlier fell to minus 55 from minus 48 in August. Martin Sartorius, CBI lead economist, said retailers reported a sharp annual decline in sales in September, with some attributing it to weak consumer sentiment, and added that with sales continuing to fall, retailers appear to have cut orders at the fastest pace since the survey began. The CBI said it hopes Prime Minister Burnham's pledge to boost growth in every postcode area will include a cut in business rates for high street retailers.