According to the latest CBI Distributive Trades Survey, the UK retail sales volumes fell to -41% in March, down from -23% in February and the lowest since mid-2024, marking the sixth consecutive month of decline.

• The sales index is expected to improve to about -30% in April.
• Sales for the time of year were below seasonal norms in March (-36%), similar to February (-34%), with expectations for a similar weak month (-35%) in April.
• Online retail sales remained weak at -27% in March, following a reading of -28% in February, with an expected -26% decline next month.
• Wholesale sales volumes fell to -29% in March, accelerating from -19% in February, with a similar reading forecasted in April (-25%).
• Total distribution sales volumes (retail, wholesale, and motor trades) declined -32% YoY, following a -26% fall in February.
• Retail orders placed upon suppliers fell in the year to March at the same rapid pace as in February (-38%). Orders are expected to decline at a similar rate next month (-41%).
• Retail stock volumes in relation to expected demand were firm in March (+20% from +16% in February; long-run average +17%) but are set to soften slightly in April (+12%).
• CBI: “Annual retail sales volumes fell markedly in March and are expected to continue declining next month. Firms across the retail and wholesale sectors reported that global trade tensions and the Autumn Budget are weighing on consumer and business confidence, which is leading to reduced demand.”