Retail sales fell by the most since early 2012 immediately following the referendum on European Union membership, a survey by the CBI showed.
Of the retailers surveyed in the period from 28 June to 14 July, 24% reported an increase in spending and 38% a decline. The balance of -14 was the lowest since January 2012.
CBI chief economist Rain Newton-Smith said low inflation and high employment should support spending in the near term, although the weaker pound is likely to lead to higher inflation over time.
