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Financial News: UK June Retail Sales Volume Tops Expectations: CBI

UK June Retail Sales Volume Tops Expectations: CBI

06/27/2017 - 06:19:00 (RTTNews)

(RTTNews) - British retailers reported an increase in sales volume in June, the Distributive Trades Survey from the Confederation of British Industry showed Tuesday.

Looking ahead, growth in volumes of sales is expected to stall in the year to July, while orders are also expected to be flat.

The retail sales balance came in at 12 percent in June, outperforming expectations of 6 percent. However, only a 3 percent of respondents forecast an increase in sales volume next month.

A balance of 10 percent of retailers placed more orders with suppliers than they did a year ago.

"The start of summer has seen shoppers hit the high street, lifting sales - if only modestly," Anna Leach, CBI Head of Economic Intelligence, said.

"However, there's no getting away from the fact that life is getting tougher, with retailers clearly cautious over the near-term outlook."

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