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Mixed update from CBI on UK retail sales

Thursday, 26th April 2012
Retail sales in the UK dipped more than expected in April, but stores reported the strongest outlook for more than a year, according to a survey by the Confederation of British Industry (CBI).

The CBI distributive trades survey's sales balance dropped to -6 from 0 the previous month, compared to consensus forecast for a dip to -4, indicative of a fall in sales volumes from a year earlier, when they had benefited from a royal wedding and good weather.

But the balance of expected sales for May rose sharply to +19, its highest since February 2011.


Story provided by StockMarketWire.com


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