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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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.