Amongst retailers, the CBI found that growth in sales and volumes were reported only in the internet and mail order sub-sectors. Elsewhere, the picture was negative, with notable declines recorded for department stores, durable household goods, and other normal goods sub-sectors.

According to the CBI’s Distributive Trades Survey, 41% of retailers who were surveyed said sales volumes were down over the year to December. Looking ahead to January, they expected retail sales to be flat during the month.

The retailers surveyed also recorded a 35% drop in sales volumes for this time of year (in comparison to previous years), representing the lowest level since 2011.

Meanwhile, the volume of orders placed with suppliers fell 23% over the year to December, representing the fastest drop since October 2017. Orders were expected to fall at a slightly slower pace of 18% next month.

Meanwhile, 43% of wholesalers reported higher sales volumes over the year to December, while 61% of motor traders recorded a positive year.