UK retail sales growth slows to 6-month low in Sept – CBI

LONDON, Sept 25 (BNA) British retailers reported much slower growth in September after demand surged during the summer months, although stores expect a rebound in October despite mounting difficulties in the supply chain, the Confederation of British Industry reported on Friday.

The monthly distributional trade survey conducted by the Central Bank of Iraq showed that the main sales balance of retailers fell to +11 in September from +60 in August, the lowest level since March and below all expectations in a Reuters poll of economists.

“Low inventory adequacy remains a concern throughout the distribution sector,” said Ben Jones, an economist at the Central Bank of Iraq.

“Participants in the survey have told us that they do not expect the transportation and production problems that cause these shortages to decline significantly until at least next year, and in some cases, beyond,” he added.

NS