Retail sales fall less than expected

Updated 11.44 Wed Sep 24 2008

Keywords: sales, credit crunch, retail

British retail sales fell for a sixth consecutive month in September but the fall was less than analysts had expected.

The Confederation of British Industry's distributive trades survey balance picked up to -27 in September from -46 in August. August's reading was the lowest since the series began in 1983.

Retailers were gloomy about the outlook for next month, with the expectations balance for October at -30

Retailers were gloomy about the outlook for next month, with the expectations balance for October at -30.

A breakdown by sector showed grocers faring best while durable household goods stores continued to report hefty declines.

Andy Clarke, chairman of the CBI's survey panel, said: "Retailers of big ticket items like furniture and white goods, who are closely tied to the ailing housing market, continue to suffer.

"Supermarkets have fared much better in these difficult times, particularly those that have realigned their range to match the price conscious."