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Expiries for Jul26 NY cut 1000ET (Source DTCC)

FED

New York Fed Staff Nowcast

--UK Feb Retail Sales Volumes Balance +8 Vs In Jan; +20 In Dec
By David Robinson
     LONDON (MNI) - UK retail sales growth slowed in February but a pick-up was
expected in March, the CBI Distributive Trades Survey, published Thursday,
found.
     The reported sales volume balance for February fell to 8 from 12 in January
and 20 in December. While the third consecutive monthly fall in sales volume may
be compatible with the squeeze on consumers' real incomes, the CBI survey's
expected sales balance for March rose to 21 from 13 for February and the outlook
seems brighter.
     The CBI's sales for time of year balance rose to 4 in February from -17 in
January, with the March expected balance was up at 8.
     For the first time since November 2016, retailers predicted their business
situation to improve over the next three months and investment intentions for
the year ahead were the highest since August 2015 in the CBI survey.
     The latest pay deals data suggest a return to positive incomes growth is on
the cards and there is little reason to expect any continued slowdown in retail
spending.
     Anna Leach, CBI Head of Economic Intelligence, said "While trading
conditions remain tough, it's encouraging to see retailers' investment
intentions improving to their highest since August 2015, in addition to signs of
renewed business optimism for the first time in more than a year."
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com