Retailers Less Pessimistic About Future

The CBI Distributive Trades Survey shows high street sales falling for the fourth month in a row in the year to August. Running down stocks has left many businesses with a level that is just about adequate but job cuts could be heavier than in May. Most retailers reported a fall in retail sales and a further fall is predicted for September. Sales for the time of year are also reported to be weak. Retailers continue to cut their orders with their suppliers at an even faster rate than in previous months. More jobs may also go before September. Price inflation continues to rise. However, business confidence is improving with many people in business feeling less pessimistic about the general business situation than the last quarter.