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--May Reported Sales Volume Balance +11 Versus -2 April
By David Robinson
     LONDON (MNI) - UK retailers saw a modest recovery in retail sales volume
growth in May, with quarterly price expectations holding steady, a CBI survey
showed.
     The May quarterly average expected selling prices balance was broadly
unchanged in May at 57 compared to 60 in February, suggesting widespread but
non-accelerating price increases in the months ahead. The volatile monthly sales
volume balance for May rose to 11 from -2 in April, just below the 12 recorded
in the first month of 2018.
     The broad picture on the retail sector in 2018 has been one of erratic
monthly movements with subdued overall growth, with consumers' appetite for
spending weak. The Bank of England is forecasting sales growth of around 1% in
2018.
     The three-month moving average for May sales volumes in the CBI survey rose
from -1 in April to zero, highlighting the softness of trend sales growth.
     Official retail sales data for April is published Thursday. The CBI survey
showed internet sales, after dipping in March, maintained the level set in
April, coming in at 35 from 36 and up from 11 in March.
--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