UK retail sales are forecast to rebound in April after declining for the first time since October 2017, the latest monthly Distribution Trades Survey from the Confederation of British Industry showed Wednesday.
About 32 percent of retailers said that sales volumes were up in the year to March, whilst 40 percent said they were down, giving a balance of -8 percent.
Nonetheless, a balance of 16 percent expect sales volumes to increase in April.
Further, a net balance of 27 percent reported that the sales volume was poor for the time of year. Retailers expect sales to be more typical for the time of year in the year to April.
“As winter finally loses its grip, retailers expect a recovery in sales growth in April, albeit a fairly tepid one,” Ben Jones, CBI principal economist, said.
“Looking to the rest of 2018, we expect the recent squeeze on household incomes to ease in the months ahead,” Jones added.
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