CBI says retail sales fell in January

Retail sales fell in January as shoppers reined in their spending at the start of the year, the CBI says.

Its monthly survey of the distributive trades found 44% of retailers said sales volumes were down on a year ago.

With 22% saying they had seen sales rise in January, there was a negative balance of 22% of retailers, the lowest since March 2009.

Retailers expect sales volumes to continue to fall in February, albeit it at a slower pace than this month.

They reported January sales as disappointing for the time of year.

Hardware and DIY stores gave the gloomiest report among the retail sector, with online and mail-order faring the best.