UK retail conditions darken in April – CBI Distributive Trades Survey

Retail sales volumes were judged to be below seasonal norms in April, to a greater extent than in March, according to the latest CBI Distributive Trades Survey. Separately, sales volumes declined at a sharp pace in the year to April. Looking ahead, retailers anticipate that sales volumes will disappoint for the time of year in May, while continuing to fall rapidly on an annual basis. Key findings included: Retail sales for the time of year were judged to be “poor” in April, to a greater extent than last month (-32% from -23% in March). May’s sales are set to fall short of seasonal norms to a greater degree ...