イギリス - CBI分配的取引

The Confederation for British Industry's monthly retail sales balance rose seven points from a month earlier to -3 in November 2019, the highest level since April and well above market expectations of -10. Business conditions are expected to remain stable over the next three months and total employment was broadly flat in the year to November. However, orders placed upon suppliers fell for the seventh consecutive month, while retailers were once again planning to spend less on investment next year than they did this year. Within the retail sector, grocers made the greatest positive contribution to the headline figure this month, with negative contributions coming primarily from non-specialised stores, but also clothing and non-store retail.

The Confederation for British Industry's monthly retail sales balance rose 6 points from a month earlier to -10 in October 2019 and beating market expectations of -20. Still, the latest reading pointed to the sixth consecutive month of decline in retail sales volume, the longest since the financial crisis amid ongoing digital disruption, layered on top of cost pressures from a weak pound and the cumulative burden of an outdated business rates regime. Meanwhile, the gauge of orders placed with suppliers increased to -4 from -9 while stores still judged that sales were poor for the time of year, with this measure dropping to -12 from -11.

The Confederation for British Industry's monthly retail sales balance jumped 33 points from a month earlier to -16 in September 2019, recovering from a near 11-year low and beating market expectations of -25. Still, the latest reading pointed to the fifth consecutive month of decline in retail sales volume, amid a weaker pound and concerns about potential tariffs and supply issues in the event of a no-deal Brexit. Sales contracted across all sectors, with lower sales by clothing retailers and department stores driving the fall in volumes. In addition, the gauge of orders placed with suppliers rose to -9 from -59, but stores still judged that sales were poor for the time of year, with this measure dropping to -11 from -6.

The Confederation for British Industry's monthly retail sales balance plunged 33 points from a month earlier to -49 in August 2019, the lowest since December 2008 and the second weakest since records began in 1983. It was also well below market expectations of -11. Orders fell at their fastest rate in over a decade and sales were below average. Meanwhile, retailers expect the sharpest deterioration in business conditions since February 2009 in the coming months, with a potential no-deal Brexit on the horizon.

The Confederation for British Industry's monthly retail sales balance increased 26 points from a month earlier to -16 in July of 2019 and worse than market expectations of -10. It is the third consecutive month of contraction in retail sales, the longest period of decline since 2011. Orders placed on suppliers also fell for the third consecutive month, but at a slower pace than the previous month. Both sales and orders are anticipated to be broadly flat next month. Grocers were the largest positive contributor to sales growth, reversing a large fall last month. However, this was more than offset by declines in other categories, particularly department stores, clothing and other normal goods. Growth in online sales recovered after flattening out in the year to June. However, growth remains below the long-run average, and is expected to edge lower in the year to August. Wholesalers reported no growth in sales on a year ago, but a small pick-up is expected in the month ahead.