Economic Buzz: UK retailers expect sales to fall further in October

UK retailers expect sales to decline at a steeper pace in October, highlighting the persistent weak demand conditions, the Distributive Trades Survey from the Confederation of British Industry showed on Thursday.

A net 36 percent of retailers expect sales to decrease in October. Although the retail sales balance rose to -29 percent in September from -32 percent in August, it remained negative for the twelfth straight month.

A net 13 percent of retailers judged that sales were poor in September compared to -19 percent in August.

Further, the survey showed that October's sales are set to disappoint as the balance for next month declined to -43 percent.

Online retail sales volumes also declined sharply in September. The corresponding balance plunged to -24 percent from +3 percent in August. About 19 percent forecast online sales to fall again next month.

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