UK CBI reported sales dropped sharply to -42 in June, down from -27 and way off expectation of -3. That is, 16% of retailers said sales volumes were up in June of a year ago. 58% said they were down. It also indicates that retail sales volumes fell at their fastest pace since March 2009 in the year to June

CBI said: “Recent data suggests UK economic growth has slowed noticeably in the second quarter of 2019, as the boost from stockpiling activities in Q1 fades. We expect the UK to return to a subdued growth path further ahead, although risks from Brexit uncertainty and global trade tensions remain heightened.”

Full release here.

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