High street retailers have reported rising sales and orders for the third consecutive month but slower growth than expected, according to a report from the Confederation of British Industry (CBI).
In its latest trades survey covering the first two weeks of July, 44 per cent of retailers said sales volumes were up on a year ago, while 33 per cent reported a fall.
CBI spokesman Judith McKenna and Asda chief operating Officer, said the unprecedented poor weather had not helped. “Retailers also expect conditions to remain tough during August. With consumer confidence weak and wage growth remaining sluggish, the longer term outlook for retailers remains challenging,” she added.