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Retailers look on sunny side despite sales slip

Shoppers turned more frugal this month, cutting back on groceries after a bumper May, according to the CBI's latest industry survey. Its retail sales balance fell to +29 in June from +51 in May, with the slowdown driven mostly by the grocery sector, where volumes were flat in the 12 months to date. 44% of the survey's 131 respondents said volumes were up and 15% said they were down, giving the +29 reading. Barry Williams, a senior Asda executive and chairman of the CBI survey, said: 'Summer is a time of optimism for retailers and this year is no different. Even though growth slowed slightly this month retailers are not letting that subdue their hopes for the season'.

 

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