Retail sales grew at the fastest pace since June 2012, according to the CBI’s latest quarterly Distributive Trades Survey. The survey of 120 firms showed that sales have grown for the ninth consecutive month, while retailers’ investment intentions for the year ahead were at their highest since November 2010.
Sales volumes were strong once again among grocers, clothing (the sector bounced back from a disappointing January with growth in sales volumes of 33%) and furniture & carpet retailers, but specialist food & drink recorded a fall in sales volumes for the second consecutive month. Sales were broadly in line for the time of year, while orders picked up, consistent with expectations, and firms anticipate they will strengthen again in the next month.
