The latest retail sales research provided by the Confederation of British Industry said that sector sales for July were ahead of original expectations.
UK retailers have reported another strong month of sales growth, but stock levels have evidently slumped to a new record law, according to newly released data.
The latest retail sales statistics from the Confederation of British Industry (CBI) said that sector sales for July are still ahead of original expectations as they have begun to show a marginal slowdown from June, which had seen the fastest rate since 2018.
It was revealed that there was a 23% rise in retail sales volumes for July, having recorded a 25% improvement in the previous month.
Mark Richardson, Partner at BB&J Commercial said that “the latest figures show that consumer demand continues to support the UK’s economic recovery which is extremely promising for many businesses.”
According to the CBI, sales are now expected to rise at a faster pace next month, bit orders are likely to slow down.
For July, many companies reported that they had seen the fastest growth in orders for more than a decade, amid 49% year-on-year growth for the month.
The CBI survey which recorded 124 firms’ responses, found that stock levels in relation to expected sales across the distribution sector reached a survey record low in July, for the second consecutive month.
It was also reported by the CBI that retail, wholesale, and motor trade sectors all reported relative stock as too low, with the situation expected to deteriorate further in August.
Mark Richardson also added “retail sales have been at or above seasonal norms for the last few months now, although this picture is not universal for all businesses. While demand may be more stable, operational issues worsen as we have seen many businesses enquire about larger industrial units to facilitate large demand.”
While stock is the greatest concern, now has never been a better time to invest in commercial property or land.
At BB&J Commercial, we have seen our properties and land sell quicker than ever, meaning that if you are looking to invest you need to be quick! Equally, if you have commercial property or land you would like to sell or let, we can help with the disposal in a professional and quick manner.
Contact us today on:
Tel: 01332 292825
Email: commercial@bbandj.co.uk
