The Confederation of British Industry (CBI) announced on Thursday its
latest survey of retailers showed that retail sales volume balance fell to +14
in the year to February from +28 in the previous month. This,
however, was above seasonal norms in February (+16).
Economists had expected the reading to drop to +25.
The report also revealed that retail sales volumes were anticipated to dip
to -1 in March. This is seen as normal level for this time of the year. In other survey results, stocks in relation to expected sales were
estimated as slightly poor, despite m-o-m improvement (-4 from -11 in January).
They are expected to increase slightly next month (+4).
The pace of increase of retail selling prices accelerated steeply in the
year to February (+75 from +77 in November), and are forecast to quicken
slightly more next month (+81). Meanwhile, employment growth slowed in the year
to February (+8 from +19 in November) and is seen to rise at a similar pace in
March (+5).