Higher rates, bad weather hit UK retail sales: CBI

UK retail sales grew at their slowest pace in more than a year in August, hit by higher interest rates and bad weather, an industry survey showed on Tuesday.
The Confederation of British Industry's distributive trades survey showed 34 percent of companies said sales were up on a year ago while 32 percent said they were down.
The resulting retail sales balance of +2 percent was much lower than the +24 percent balance in July, marks the lowest reading since March 2003 and suggests a rapidly decelerating retail sector after boom times earlier this year.