LONDON, Aug 24 (Reuters) - British retail sales fell in August at the fastest rate since March 2021 and most stores are expecting another tough month ahead, an industry survey showed on Thursday.
The Confederation of British Industry's monthly balance of retail sales, which compares volumes with a year ago, fell to -44 in August from -25 in July.
Expectations for the month ahead improved to -21 from -32, but were still deeply negative.
The quarterly business situation balance - a gauge of sentiment among retailers - fell to -14 from +6 in May, the lowest reading this year.
The CBI data echoed industry data earlier this week that showed sales growth at British supermarkets slowed in August, reflecting lower inflation as well as a hit to demand from unsettled, unseasonably wet weather.
Persons:
Martin Sartorius, NIQ, Andy Bruce, David Milliken
Organizations:
British, CBI, Thomson