Retailers report surprise sales drop in August - CBI survey

British retailers reported an unexpected drop in sales in August, a survey by business lobby CBI showed on Thursday, indicating that the Olympics failed to give shops the much needed boost. Photo: CorbisMost British retailers have been struggling because consumers have been reluctant to spend as rising prices, tax increases and high unemployment are hurting their spending power. The reported sales balance of the CBI's monthly distributive trades survey fell to -3 compared to economists'

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