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Financial News: British Retailers Expect Sales To Fall Again In

British Retailers Expect Sales To Fall Again In April: CBI

03/25/2024 - 08:09:00 (RTTNews)

(RTTNews) - UK retailers expect sales to fall again in April after rising moderately in March, survey results from the Confederation of British Industry showed on Monday.

At net 2 percent of retailers said their sales volume increased in March, which was the first rise after 10 consecutive months of decline, the Distributive Trades Survey data revealed.

However, retailers said sales will fall again next month, with the net balance falling to -25 percent.

The indicator measuring order volumes fell sharply to -22 percent in March from -14 percent in February. A net balance of 24 percent expects orders to fall in April. "The stabilisation of retail sales in March should give some hope that the sector's downturn is bottoming out," CBI Principal Economist Martin Sartorius said.

"The earlier timing of Easter will likely mean weaker year-on-year sales in April, but easing inflation should support retail spending going forward," Sartorius added.

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