UK Retail Sales Decline Eases in October, CBI Survey Shows

British retailers reported the smallest fall in sales in a year and a half this month, the Confederation of British Industry said Monday, bucking the downbeat trend in other recent sector data. The CBI's monthly sales volume balance rose to -10 in November from October's five-month low of -55, its highest since April 2025. Sales for the time of year were the strongest since May 2024. "The ongoing retail sales downturn eased in October, with volumes falling at their slowest annual pace in over a year," said CBI Lead Economist Martin Sartorius, though he cautioned the outlook "remains fragile" amid cautious household spending and higher fuel costs. Sales volume expectations for November rose to -10 from -37 expected for October, while the balance for supplier orders rose to -36 from September's record-low -62. The CBI urged finance minister John Healey to cut employers' social security contributions and property taxes in his first annual budget on Wednesday. Official data last week showed annual retail sales volume growth slowed sharply in September to 0.8% from 2.7%. The survey covered 68 retail chains between September 28 and October 14.