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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
MNI (London)
UK CBI MAR REPORTED SALES +1 (FCST -3); FEB +2
UK CBI APR EXPECTED SALES +9
- The UK CBI distributive trades survey for March recorded a resilient month of sales, judged by the survey to be "good" and only marginally below the February level.
- Sales expectations for April rebounded to positive at +9%, implying the first positive sales expectations since September '22.
- This follows the +1.2% m/m jump in retail sales national data in Friday's February data, which was underpinned by strong discount store and second-hand/auction house sales.
- The CBI report implies a larger chance of a positive March m/m retail print, which according to the ONS would only need to be stronger than -1.7% m/m in order for retail to be a positive contribution to Q1 GDP.
- Despite retail sales showing tentative signs of stabilising, persistently low consumer confidence, high inflation and mortgage rates will likely see consumer spending remain muted for the near future.
Source: CBI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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