In terms of individual sectors, only confectionary, tobacco and news retailers reported improved sales. Grocers, who had not reported a decline in sales growth since September 2004, recorded year-on-year sales figures at minus 24 per cent.
Wholesalers reported modest sales growth, returning to the trend seen in the summer, with a balance of plus 11 per cent. Expectations for next month were broadly similar at plus 13 per cent.
John Longworth, Executive Director of Asda and Chairman of the CBI's DTS Panel said: "Any hopes retailers had of an early Christmas present have been dashed. Consumers have been extremely reluctant to spend money, and shops will be crossing their fingers that the predicted cold spell and the rapid approach of Christmas drives people through their doors and gets the tills ringing.
"Prices are being cut and this, coupled with the escalation in fuel prices, will see margins put under serious pressure. The consumer spending slowdown is impacting on the economy as a whole and is of real concern to businesses across the board."
Confederation of British Industries
marketing@alchempro.com
