The survey of 117 firms, of which 57 were retailers, showed that, in the year to August, the volume of sales fell at the fastest pace since July 2016, with orders placed on suppliers also falling considerably year-on-year. Overall, sales for the time of year were considered to be below seasonal norms to the greatest extent since October 2014.

Looking ahead to next month, retailers expect sales volumes to rebound in the year to September, while orders are expected to stabilise.

Within the retail sector, grocers saw stable sales on the year, following strong growth last month, and footwear and leather performed well, whilst specialist food & drink stores reported another month of significantly falling sales.

Year-on-year internet sales growth slowed, edging further below the long-run average, but growth is expected to pick up next month.