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<Econ> CBI Survey: UK Apr Retail Posts Largest Drop in Over 40 Years
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A survey by the Confederation of British Industry (CBI) showed that UK retailers reported the most widespread annual decline in sales in more than 40 years, as the Iran war heightened household inflation concerns. The CBI's monthly retail sales volume index fell from negative 52 in March to negative 68 in April, the lowest level since the series began in 1983, with 77% of companies reporting a YoY decline in sales and only 9% reporting an increase. Expectations for May also turned more pessimistic, deteriorating from negative 49 to negative 60, marking the bleakest outlook since March 2021 during the COVID-19 pandemic. CBI economist Martin Sartorius said that as the economic impact of the Iran conflict becomes clearer, businesses will hope the government recognizes that easing cost-of-living pressures depends on addressing operating cost issues. (to/s) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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