UK retail sales volumes dropped at a faster-than-expected pace at the start of the year, and retailers expect them to decline again next month, but at a slightly slower rate, survey data from the Confederation of British Industry, or CBI, showed Thursday. The sales balance decreased to -23 from +11 in December, results of the Distributive Trades Survey of the CBI showed. Economists had expected a balance of -5. Around 15 percent of surveyed retailers are expected to report a drop in sales next month, the survey showed. "Retailers began the new year with a return to falling sales volumes, as the sector continues to face the twin headwinds of rising costs and squeezed household incomes," Martin Sartorius, principal economist at the CBI, said.
The survey also found that internet sales volumes shrunk in the year to January, but at a significantly slower pace than in December. Online sales are expected to grow in February, which will be the first month with growth expectations since December 2021.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.