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CBI Retail Sales Growth Fastest Since Dec'22

UK DATA
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UK CBI volume of sales reported rose +8% (vs -44% prior, -19% expected) - the fastest pace of growth since December 2022, according to the latest CBI Distributive Trades Survey.

  • However, retailers expect volume of retail sales to fall moderately next month by 4% (vs expectations of -19% this month).
  • CBI Lead Economist states "Falling inflation, and continuing real wage growth will contribute to a healthier consumer outlook, in turn supporting the retail sector further...That being said, retailers are restrained about their business situation over the coming quarter. Headlines sales are expected to fall moderately next month, and it’s concerning that retailers’ investment intentions have deteriorated noticeably. "
  • Also of note selling price inflation eased considerably (+20% vs +54% in February), now at its lowest since August 2020.
  • This CBI reading follows the Official ONS retail sales disappointing for April 2024 at -2.3% M/M (vs -0.5% M/M forecast).
  • The survey includes 137 respondents, of which 56 were retailers, conducted between 26 April and 15 May.


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UK CBI volume of sales reported rose +8% (vs -44% prior, -19% expected) - the fastest pace of growth since December 2022, according to the latest CBI Distributive Trades Survey.

  • However, retailers expect volume of retail sales to fall moderately next month by 4% (vs expectations of -19% this month).
  • CBI Lead Economist states "Falling inflation, and continuing real wage growth will contribute to a healthier consumer outlook, in turn supporting the retail sector further...That being said, retailers are restrained about their business situation over the coming quarter. Headlines sales are expected to fall moderately next month, and it’s concerning that retailers’ investment intentions have deteriorated noticeably. "
  • Also of note selling price inflation eased considerably (+20% vs +54% in February), now at its lowest since August 2020.
  • This CBI reading follows the Official ONS retail sales disappointing for April 2024 at -2.3% M/M (vs -0.5% M/M forecast).
  • The survey includes 137 respondents, of which 56 were retailers, conducted between 26 April and 15 May.