Retail sales in the UK fell for the third month in succession, according to data released by the Confederation of British Industry (CBI).

The CBI's latest report revealed that 32% of retailers reported that sales were higher than a year ago, while 47% said they were lower. The resulting balance of -15% marks the third month in a row of declining sales.

However, the pace of decline in sales in July was less than the -17% recorded in June.

"Many retailers are having a difficult summer and no pick-up is expected in August. But the overall sales falls are not as heavy as we saw at the start of the year, and some retail sectors are reporting growth," said Andy Clarke, Chairman of the CBI Distributive Trades Panel.