|
The
CBI's (CBI) expected sales balance for April increased to +9
from -18 in March. Apart from September's reading of +31, the
gauge of sales expectations has been negative in every month
since May of last year.
Sales in March were reported roughly flat at +1, little changed
from February's reading of +2. A Reuters poll of economists had
pointed to a reading of -6.
Consumers have been hit hard by an inflation rate that remains
about 10%, plus rising interest rates and the prospect of higher
taxes.
"It's encouraging that activity in the retail sector showed
signs of stabilising after a challenging winter," CBI Principal
Economist Martin Sartorius said.
"This resilience has helped inspire some spring shoots of
optimism, with firms expecting an increase in sales for the
first time since last September."
Sartorius said finance minister Jeremy Hunt's decision to
increase support for occupational health and expand childcare
provision would help address some of the labour shortages that
retailers face but did not go far enough.
"In particular, more will need to be done to tackle retailers'
ongoing skills gaps," he said
(Reporting by William Schomberg; Editing by William James)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
