• UK CBI Distributive Trades -46 vs -50 expected
• Prior -68
• Full report here

The agency noted: “retail selling prices grew in the year to May at the slowest rate in over a year and are set to grow at a similar pace in June. Sales volumes in the retail sector fell short of seasonal norms in May, while annual sales volumes continued to fall but at a slightly slower pace. Next month, sales are expected to remain “poor” for the time of year, with the sales decline in annual volumes set to ease slightly further.”

They added that “weak demand continues to weigh on retailers’ sentiment, which has remained negative since mid-2024, as firms anticipate that their business situation will deteriorate over the coming quarter. Against this backdrop, retailers expect to pare back both investment and hiring plans, extending a period of weakness that dates back to 2022.”