(Bloomberg) -- Britain's retailers are becoming increasingly gloomy as they brace for the U.K.'s planned departure from the European Union at the end of October.
Stores expect the sharpest drop in business conditions since 2009 in the coming three months, according to a survey by the Confederation of British Industry published Thursday. Measures of sales volumes and orders placed on suppliers also declined at their fastest pace in more than a decade, it said.
Investment intentions for the year ahead weakened for a sixth consecutive quarter. There were also signs of renewed stockpiling this month, with levels compared to expected sales climbing to match a record high.
The survey questioned 43 retailers between July 25 and Aug. 13.
To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net
To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Andrew Atkinson
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