LONDON (Reuters) – Eight out of 10 British retailers reported cash flow difficulties this month as sales dropped sharply again during the coronavirus lockdown, an industry survey showed on Tuesday.
The Confederation of British Industry’s (CBI) monthly gauge of retail sales rose to -50 from in May from a joint record low of -55 in April, as expected in a Reuters poll of economists.
“The retail sector is at the sharp end of a crisis, with many businesses up against it,” CBI chief economist Rain Newton-Smith said.
“The government’s support packages are making a real difference, with more shops reporting that jobs have been furloughed, rather than lost.”
(Reporting by Andy Bruce; Editing by William Schomberg)
