Just 32% of wholesalers reported sales volumes were up, compared to 35% reporting a dip in the latest monthly Distributive Trades Survey from the CBI.
The survey of a 112 firms representing retailers, wholesalers and motor traders from a cross section of sectors, reported that retail sales volumes had slowed in the year to October following a strong result in September.
However, the CBI, reported that sales were nonetheless regarded as well-above average for the time of year and growth was expected to improve slightly in November. Internet sales volumes across all sectors accelerated in the year to October, with growth set to pick up further next month, reported the CBI.
Rain Newton-Smith, CBI director of economics said: “Growth in sales and orders for high street retailers remains resilient, but there has been a slight slowdown in the pace of that growth following a strong September.
“Low inflation and improving wages mean the prospects for sales growth are decent, but challenges remain, like the weakening global economy and competitive pressures in the retail sector, so we can’t take this positive outlook for granted.”