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  • Growth in UK retail sales volumes decelerates more than anticipated in December - CBI
Ekonomické zprávy
21.12.2021

Growth in UK retail sales volumes decelerates more than anticipated in December - CBI

The Confederation of British Industry (CBI) announced on Tuesday its latest survey of retailers showed retail sales volume balance plunged to +8 in the year to December from +39 in the previous month. This was the lowest reading since March.

Economists had expected the reading to decrease to +13.

The report also revealed that retail sales volumes were forecast to grow at a similarly weak pace next month (+5). In other survey results, stocks in relation to expected sales recorded a positive balance for the first time since February (+22, up from -2 in November), and they were seen to be broadly adequate in January next year. The pace of growth of orders placed upon suppliers quickened last month (+55, up from +30), but was forecast to slow in the year to January (+25).

Commenting on the latest survey, CBI lead economist Ben Jones noted that it confirmed the newly-detected Omicron coronavirus variant had a “chilling impact” on retailers’ activity early this month. “On the supply side, retailers have been making progress in building up stocks, which were seen as more than adequate to deal with expected demand over Christmas,” he added. “The concern now is the potential for rapidly rising sickness and staff absences to cause renewed disruption to supply chains in the New Year.”

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