High street sales plummet
12 April 2012
Plunging stock markets and fears of a house price collapse have left high street sales growth at its slowest for 18 months.
In the latest sign that the consumer boom is over, the CBI said retailers' expectations of a July sales bounceback have not been realised - only 16 per cent reported higher sales than a year ago. Alastair Eperon, chairman of the survey's panel, said: "The retail sales boom seems to be over. Despite continuing price cuts and stiff competition on the high street consumers are less willing to spend."
