UK retail sales volumes dropped at the slowest rate since October in April, according to a survey by the Confederation of British Industry (CBI) cited by Reuters. The monthly gauge of retail sales compared to the previous year rose to -8 in April from -41 in March, its highest level since October 2024. However, retailers remain cautious, with the CBI's forecast for May sales falling to -33, the lowest in over a year. Martin Sartorius, principal economist at the CBI, cited weak consumer sentiment, the impact of the Autumn Budget measures, and global economic uncertainty as key factors holding back recovery. Despite an unexpected surge in retail sales in March, rising household bills and concerns over economic growth, exacerbated by global issues such as the US-China trade war, continue to dampen consumer confidence. The CBI also reported a sharp decline in wholesale sales volumes in April, with expectations for further downturns in May. Attribution: Reuters Subediting: M. S. Salama
