UK retail sales 'fizzling out'

Retail sales in the UK have “fizzled out” in recent weeks and will remain under pressure for some time to come, a gloomy survey from the CBI has warned today.

A balance of 2% of retailers said sales volumes fell in the first two weeks of June – the first decline for a year – as anxious consumers cut back on clothing, groceries and big ticket items, the CBI’s monthly retail trends survey found.