June 26 Reuters British retail sales softened this month after a recovery in May, and store chains expect another drop next month, an industry survey showed on Wednesday.
The Confederation of British Industry39;s monthly retail sales balance, which measures volumes compared with a year ago, fell to 24 in June from 8 in May.
Unseasonably cold weather in June may have played a role, but its notable that internet retail sales fell sharply in our survey, too, said Alpesh Paleja, interim deputy chief economist at the CBI.
The survey39;s gauge of expected sales next month showed a reading of 9, indicating a modest drop in sales volumes compared with a year ago, compared with 4 in last month39;s survey.
Reporting by Andy Bruce; editing by David Milliken
Source Reuters