UK Shoppers Tighten Belts as Budget Jitters Loom

UK stores are feeling the pinch as shoppers hold back on spending. This isn't new - it's been going on for over a year. The latest figures show sales are still dropping. People are worried about what the finance minister might announce in the upcoming budget. The Confederation of British Industry (CBI) tracks these trends. Their latest report shows sales are still down compared to last year. The number is -27, which is a tiny bit better than last month's -29. But it's still not good news. Looking ahead, things don't seem to be improving. The expectation for next month is even worse, with a drop to -39 from -36. This shows that people are not feeling confident about spending money right now. Martin Sartorius, an economist at the CBI, points out that this is the 13th month in a row that sales have fallen. He says people are worried about the budget coming up on November 26th. This uncertainty is making things harder for stores and other businesses. Last year's budget already hit businesses hard, especially with higher social security contributions. Now, there's talk about new employment laws that might make hiring more difficult. This is adding to the uncertainty and making businesses nervous. The CBI survey included responses from 192 businesses. Out of these, 81 were retailers and 86 were wholesalers. This gives a good picture of what's happening across the industry.