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Financial News: British Retail Sales To Remain Flat In February:

British Retail Sales To Remain Flat In February: CBI

01/28/2020 - 06:22:00 (RTTNews)

(RTTNews) - UK retailers reported that sales volumes were flat for the third consecutive month in January and they expect no growth for next month, according to Distributive Trends Survey published by the Confederation of British Industry.

The retail sales balance held steady at zero percent in January and the balance is forecast to remain at zero percent in February.

Anna Leach, CBI deputy chief economist said, 2020 looks set to be another tough year for the sector as growth in households' disposable income is set to remain modest and retailers continue to battle longer-term issues such as digital disruption and the cumulative burden of policy costs.

The upcoming Budget provides an opportunity for the Chancellor to support retailers, primarily by fixing the broken business rates system, the economist noted.

A balance of -9 percent expect sales to be poor for the time of year next month. Meanwhile, internet sales growth bounced higher with the balance hitting 46 percent in January and is set to rise further in February.

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