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Financial News: British Retail Sales Expand At Steady Pace: CBI

British Retail Sales Expand At Steady Pace: CBI

03/23/2017 - 07:23:00 (RTTNews)

(RTTNews) - UK retailers reported a steady pace of expansion in sales volume in March and forecast it to accelerate in April, according to the latest monthly Distributive Trades Survey.

The retail sales balance came in at +9 percent in March, the same as in February, but well above the expected level of 4 percent, data published by the Confederation of British Industry revealed Thursday.

A balance of 6 percent said the sales volume was poor for the time of the year, the lowest since July 2016. Further, the survey showed that a net 10 percent said they placed fewer orders with suppliers.

"It's encouraging to see that sales volumes growth is holding up and expectations have strengthened," Anna Leach, CBI Head of Economic Intelligence, said.

"However, retailers continue to be squeezed by rising cost pressures on the one hand, and intense competition on the other, which will limit their ability to raise prices," she added.

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