CBI: British retail sales balance improves in September

LONDON (MarketWatch) — British retail sales volumes contracted in September, but at a slower pace than August, the Confederation of British Industry said Wednesday in its distributive trades survey. The poll found 21% of retailers saw a rise in first-half September sales volumes compared to September 2007, while 48% said sales were down, for a balance of -27. That’s an improvement from the record low of -46 in August and exceeded market expectations for a rebound to -38. Still, “consumers are feeling the brunt of the economic slowdown as the U.K. endures what is likely to be a short and mild recession,” said John Cridland, CBI deputy director-general, in a news release.

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