Key facts
- Retail sales volumes fell at their slowest annual pace in over a year in October.
- The CBI called on finance minister John Healey to cut employers' social security contributions and property taxes.
- Official data showed annual retail sales volume growth slowed to 0.8% in September from 2.7% in August.
British retailers reported the smallest fall in sales in 18 months in October, according to a Confederation of British Industry survey. The sales volume balance rose to -10 from -55 in September, reaching its highest level since April 2025. Sales for the time of year were the strongest since May 2024. CBI Lead Economist Martin Sartorius noted that the ongoing retail sales downturn eased, but the outlook remains fragile due to cautious household spending and higher fuel costs. The CBI has called on finance minister John Healey to cut employers' social security contributions and property taxes in his upcoming budget. Official data last week showed annual retail sales volume growth slowed sharply in September to 0.8% from 2.7% in August, while Britain's longest-running consumer confidence survey recorded its sharpest fall since the COVID-19 pandemic in October.