CBI said UK retail sales dropped from 25 to 23 in the year July, but continued to grow at a rate “well above the long-run average”. Orders grew at the fastest pace since December 2010 (up fro 30 to 49). Sales are expected to grow at a faster pace (+29%) and orders at a slower pace (+39%) next month.
Ben Jones, Principal Economist at the CBI, said: “Helping people and businesses live safely with the virus is key to maintaining the confidence needed for economic recovery. Businesses will continue to face significant disruption without a more effective system for allowing double-jabbed people who are not infectious to continue to work—both in the coming weeks but, crucially, as we head into the autumn and winter months.”
