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UK retail sales grew slowly ahead of EU referendum: CBI

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British shop sales growth slowed slightly ahead of last week's referendum on European Union membership, an industry survey showed on Tuesday.

[LONDON] British shop sales growth slowed slightly ahead of last week's referendum on European Union membership, an industry survey showed on Tuesday.

The Confederation of British Industry's monthly retail sales balance for June slipped to +5 from +7 in May. The survey was conducted between May 26 and June 14, before Britons voted to leave the EU last Thursday.

"Retail sales reported weak growth in the year to June, beating expectations of a modest fall and lifting sales slightly above average for the time of year," the CBI report said.

The CBI said it would not comment further on the results, given the survey was conducted before the referendum.

REUTERS

 

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