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Financial News: UK Retail Sales Grow At Moderate Pace In

UK Retail Sales Grow At Moderate Pace In May: CBI

05/23/2018 - 06:58:00 (RTTNews)

(RTTNews) - British retail sales grew at a moderate pace in May, the latest Distributive Trades Survey from the Confederation of British Industry showed Wednesday.

A balance of 11 percent reported an increase in retail sales in May. However, a net 11 percent expects sales to fall next month.

A cold start to the year has added to the woes of retailers already facing the twin burdens of higher cost inflation and squeezed household incomes, Anna Leach, CBI Head of Economic Intelligence, said.

"Although real wage growth is gradually rising, the pace is gradual, meaning that the squeeze on households from higher inflation and subdued wage growth will persist for some time yet."

The survey was conducted between April 26 and May 11.

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