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Financial News: UK Retail Sales To Rise Marginally Again In

UK Retail Sales To Rise Marginally Again In June: CBI

05/23/2017 - 08:03:00 (RTTNews)

(RTTNews) - British retail sales are expected to rise marginally again in June but growth is set to remain below its long-term average, the Quarterly Distributive Trades Survey from the Confederation of British Industry showed Tuesday.

The retail sales balance fell to +2 percent in May, well below the expected level of +31 percent.

Retailers expect sales volume to pick up pace a little next month, with balance improving to +6 percent in June.

Nonetheless, retailers expect their overall business situation to deteriorate over the next three months.

"Retail sales flattened out this month, as the bounce in April unwound," Alpesh Paleja, CBI Principal Economist, said.

"It's clear that households are increasingly feeling the pinch, as rising inflation pushes down on real earnings. Taken together with higher import cost pressures from a weaker pound, this is creating a challenging environment for retailers," said Paleja.

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