Retailers' year-on-year sales fell again in May according to the latest CBI Distributive Trades Survey results published today. There had been a brief pause in the decline in April but at least the monthly results reflect retailers' expectations for the month and confidence is the least negative for a year.
Employment conditions remained difficult in May and staff reductions continued to mount. Prices rose during the month and similar rates of price inflation are expected in the August quarterly DTS survey. A small majority of firms expect the general situation facing retailers to get still worse.
Wholesale and motor traders' sales fell faster in the year to May than in the year to April. Average selling prices in both sectors also increased. In the motors sector prices increased at the fastest rate since August 1990. Investment plans in the wholesale sector are lower than at any time since February 1991.
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