Free Trial

CBI Survey Signals More Robust April Retail Sales

UK DATA
MNI (London)
UK APR CBI RETAL REPORTED SALES +5 (FCST +4); MAR +1

UK MAY CBI EXPECTED RETAL SALES -7 ; APR +9

  • The CBI Distributive Trends Survey found UK retail sales edged up in the year to April, with sales volumes described as "good" for the time of year and year-on-year sales expansive for the first time in 2023.
  • This is seen as short-lived, as retail sales are expected to then fall again in May with spending appetite remaining downtrodden.
  • Despite retail sales showing tentative signs of stabilising, weak consumer confidence and persistently high inflation rates will likely see consumer spending remain muted for the near future.
  • After contracting in March, ONS data showed UK sales rose by overall by +0.6% in Q1, implying a +0.03pp contribution to GDP in Q1 (after a -0.05pp Q4 contribution). ONS Director of Economic Statistics Darren Morgan said: "the broader trend is less subdued, ... [yet] the three-month picture shows positive growth for the first time since August 2021."

To read the full story

Close

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.