UK CBI trends total orders rose to 13 in April, up fro -18 and beat expectation of 0. 49% of retail sales said sales volumes were up in April from a year ago. 36% said they were down, giving a balance of 13%. It’s the first time retail sales grew since November 2018.
Rain Newton-Smith, CBI Chief Economist, said: “It’s encouraging to see retailers with more of a spring in their step than in recent months. The recent pick up in real wages is a welcome support to the sector, making the pound in people’s pockets stretch that bit further. However, this month’s sales growth will have been distorted by the later timing of Easter, and falling sales in clothing and department stores underline how challenging underlying conditions remain
Also: “The Brexit extension means an economic crisis has been avoided, for now. However, uncertainty continues to drag on consumer confidence, and many retailers report an impact on their sales. Politicians now owe it to the country – its businesses and people – to come together in a total spirit of compromise, setting aside all party political lines, and agree a way forward to avoid a no deal Brexit.”
