RTTNews - Retail sales in the U.K. dropped for the second straight month in June after an increase in April, but the pace of decline was unchanged from May, results of the latest Distributive Trades Survey conducted by the Confederation of British Industry showed Wednesday. However, the drop was less sever than falls recorded between July 2008 and March 2009.
The CBI found 31% of retailers said year-on-year sales volumes rose in the first two weeks of June, while 48% said they were down. Hence, the balance was minus 17%, unchanged from May.
The forward looking indicator for July stood at minus 21% compared with minus 20% recorded for June. That indicates that sales are expected to fall slightly faster in July.
Chairman of the CBI Distributive Trades Panel, Andy Clarke said, June's weak sales figures show that business on the high street isn't getting any easier.
The one consolation for retailers is, it isn't getting any worse, and the dark days of the winter are behind us, Clarke added.
It is too early to foresee a sustained pick-up in retailers' fortunes over the coming months, and the savviest retailers will continue working hard to offer consumers the best possible value for money.
The survey also found motor traders recorded their best sales figures for over a year in June. That was mainly due to the boost given to car sales by the government's scrappage scheme.
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