Source: Sharecast
The CBI’s retail sales volume balance was -27 this month, versus -29 in September.
Sales were expected to fall at a faster pace in November, with the measure for expected sales down to -39 from -36.
Sales for the time of year were judged to be "poor", with a balance of -15, down from -13 in September.
A balance is the weighted difference between the percentage of firms reporting an increase and those reporting a decrease.
CBI principal economist Martin Sartorius said: "The retail sector remains in a prolonged downturn, with October marking the thirteenth consecutive month of falling annual sales volumes. Firms reported that consumer confidence remains poor, compounded by elevated caution ahead of next month’s Autumn Budget. Weak demand conditions were also reflected in further sales declines across wholesaling and motor trades.
"Persistent uncertainty ahead of the Autumn Budget is deepening the strain on retailers and other distribution firms that are still grappling with the effects of last year’s fiscal decisions. To help rebuild confidence and encourage growth, the Chancellor should reaffirm her commitment to no further business tax hikes in November. Additionally, the government should rethink the Employment Rights Bill to ensure that it does not put undue constraints on flexible working, which could particularly impact young people who often look to retail for their first jobs."
