Retail sales growth slows in October

CBI warns of challenges ahead caused by weakening global economy and retail price competition, but says outlook for sales growth remains 'decent'

Retail sales growth has slowed sharply in recent weeks following a strong September, according to a business survey.

The latest snapshot of sales in the UK from the CBI undershot retailers' expectations and follows a series of indicators pointing to the UK economy losing momentum. Official figures this week showed UK GDP growth eased in the third quarter.