Arab Today, arab today british retail sales rise in april
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

British retail sales rise in April

Arab Today, arab today

Arab Today, arab today British retail sales rise in April

London - XINHUA

British retail sales grew strongly in the year to April and are expected to increase at an even faster pace next month, said Confederation of British Industry (CBI) Thursday in a survey report. Forty-two percent of respondents reported that sales volumes were up on a year ago, while 12 percent said they were down, giving a balance of plus 30 percent (+30%), which was significantly higher than plus 13 percent in March, said CBI according to a survey of 131 companies. Retailers expect another robust growth of sales volumes next month, with 48 percent expect them to rise and merely 5 percent to fall. The balance of plus 43 percent is the highest expected growth since December 2010, which were plus 45 percent, noted CBI. Among the retail sectors, grocers, footwear & leather and hardware & DIY (Do-It-Yourself) recorded particularly strong annual sales growth, all seeing a pick-up from March, data showed. Internet retail sales continued to perform strongly, with the volume of sales rising at the highest annual rate since November 2012. Eighty-eight percent of motor traders reported sales volumes to be up on last year and 9 percent said they were down. Barry Williams, chair of the CBI Distributive Trades Survey Panel, said in a statement: "This latest survey echoes the current drumbeat of positive economic news. The trick now is for this to become a consistent theme, and deliver much needed support to household spending and economic growth in the months ahead. " Capital Economics, a London-based economic research company, said in a note: "the latest CBI survey provides another encouraging sign that the consumer recovery should maintain a healthy pace over the coming quarters."

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