Business
UK retailers report gloomy run-up to Christmas, CBI says
Published by Jessica Weisman-Pitts
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
LONDON (Reuters) – British retailers reported a weak run-up to the Christmas holidays with sales falling again and
LONDON (Reuters) – British retailers reported a weak run-up to the Christmas holidays with sales falling again and businesses worrying about higher costs in 2025, the Confederation of British Industry said on Friday.
The CBI’s monthly retail sales headline balance improved only marginally to -15 in December from -18 in November. It had also contracted in October.
“Retailers have endured a gloomy festive period,” CBI Principal Economist Martin Sartorius said. “Looking ahead, retailers expect sales to fall again in January, while wholesalers and motor traders are braced for sharper sales declines.”
The CBI’s measure of expected sales for January picked up to -11 from -29 but remained in negative territory.
Policies in the new government’s first budget announced on Oct. 30 will push up employment costs next year. Employers will have to pay higher social security contributions from April, when Britain’s minimum wage is due to rise by almost 7%.
Official retail data for November published earlier on Friday showed only a small pick-up in sales growth after a sharp fall in October in the run-up to the budget.
Sartorius said the government should speed up an overhaul of the business rates tax charged on most non-domestic properties and broader reforms to boost growth in the economy.
The CBI survey was based on responses from 72 retail chains and 92 wholesalers between Nov. 25 and Dec. 12.
(Writing by William Schomberg; editing by David Milliken)
Retail trade refers to the sale of goods and services to consumers for personal use. It encompasses various businesses, including stores, online shops, and markets.
Consumer perception is how customers view and interpret a brand, product, or service based on their experiences, beliefs, and attitudes, which can significantly influence purchasing decisions.
Business investment refers to the allocation of resources, such as capital or time, into a business venture with the expectation of generating profits or returns over time.
Economic growth is the increase in the production of goods and services in an economy over a period, typically measured by the rise in Gross Domestic Product (GDP).
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