The CBI Distributive Trades Survey rose slightly to -27 in October 2025 from -29 in September, indicating UK retailers continued to report declining sales, with expectations for November worsening to -39. Despite the modest improvement, sales have now fallen for 13 consecutive months as consumer confidence remains weak. The CBI said shoppers are growing more cautious ahead of finance minister Rachel Reeves’ upcoming budget on November 26. Martin Sartorius, CBI principal economist, noted that uncertainty over fiscal policy is adding pressure on retailers still recovering from last year’s tax hikes and slow demand. He urged the government to rule out further business tax increases to restore confidence. Retailers also remain wary of planned employment rights legislation that could discourage hiring.
