Slowdown in high street spending
Summer sales on the high street have failed to reverse the slowdown in spending, according to new figures from the Confederation of British Industry (CBI).
Although spending continued to grow in the first half of August, it did so at the slowest rate since last November.
The CBI's figures show that 42% of retailers said year-on-year sales volumes were up but 26% said they were down, giving a balance of +15%.
A CBI spokesman said:
"The Harry Potter effect seems to have helped lift sales for booksellers, but the damp and disappointing summer has not done clothes shops any favours."
