Retail sales growth slumps after bumper summer
UK retail sales growth slumped slightly this month after a strong summer, according to the latest statistics.
The Confederation of British Industry's (CBI) retail sales gauge fell to +23 in September from +29 in August.
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Department store, footwear and leather, chemists and recreational goods sales dropped last month, however growth was reported in durable household goods, hardware and DIY, Internet and mail order sales.
Momentum will be subdued going forward, the industry body said, as firms struggle to deal with slow growth in real household earnings, digital disruption and new market entrants.
CBI head of economic intelligence Anna Leach said: "As we head into Autumn, retailers have seen the run of decent sales figures continue.
"But underlying conditions are clearly tougher, with the sector facing significant challenges – from squeezed household incomes, changing consumer habits to digital disruption.
"So, policymakers must be conscious that times are harder for retailers than recent data suggests.
"With the burden of business rates stifling investment – against the backdrop of an already tough trading environment – the Government must deliver a review of the system over the coming year."
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