Skip navigation

Gloucestershire Business News

High Street 'pain' continues with slowest sales reported since 2017

Retail sales have fallen for the fourth successive month with the figures for March showing the fastest contraction since 2017.

The monthly CBI Distributive Trades survey showed that 46 per cent of companies surveyed had seen sales fall during March, compared to just 28 per cent who had reported a rise.

The results of the survey of 105 firms included 50 retailers went against strong growth expectations for the month, but some growth is expected in April.

Anna Leach, CBI head of economic intelligence, said: Even accounting for Easter timing, the High Street's poor run continues.

"While real wage growth is picking up, consumer confidence has been hit by escalating uncertainty over Brexit and concern over the economy's future.

"The pain currently being felt on the High Street is yet another reason why it is so vitally important politicians agree a deal in Parliament that is acceptable to the EU and protects our economy. No-deal must be averted at all costs."

Internet sales also slowed in March with year-on-year sales up 21 per cent, but the lowest increase rate in 12 months.

Wholesalers also reported the slowest pace of annual growth in sales for nine months of just 13 per cent and are expecting further slowing to six per cent in April.

Related Articles

Versarien's revenues halve and losses rise Image

Versarien's revenues halve and losses rise

Forest of Dean-based advanced engineering group Versarien saw its revenues halve last year.

Gloucestershire company launches same-day service Image

Gloucestershire company launches same-day service

Gloucester-based Freemans Event Partners has launched a brand-new around-the-clock foodservice logistics offer.

Gloucester business expands at Elmbridge Court Image

Gloucester business expands at Elmbridge Court

Just three offices are now available for rent at Elmbridge Court, following the latest letting.

Cirencester town centre to deliver improved parking Image

Cirencester town centre to deliver improved parking

Better parking and traffic control improvements for Cirencester residents and businesses.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.