Retail sales slow in heatwave
Author: Zoe Wickens
Retail sales growth has expanded in the month of July but a slower rate than in the previous month, according to a monthly survey.
Fifty retailers took part in the survey undertaken by CBI, which showed that sales also stayed above average for the time of the year. However, retailers were expecting a decrease in sales volumes and orders in the coming month.
Alpesh Paleja, CBI’s principal economist, said: ‘While the heatwave has boosted retail sales in recent months, we may be seeing some early signs of a cooling off, with orders falling in the year to July and retailers expecting no growth in sales next month.’