"It's encouraging that activity in the retail sector showed
signs of stabilising after a challenging winter," CBI Principal
Economist Martin Sartorius said.
"This resilience has helped inspire some spring shoots of
optimism, with firms expecting an increase in sales for the
first time since last September."
Sartorius said finance minister Jeremy Hunt's decision to
increase support for occupational health and expand childcare
provision would help address some of the labour shortages that
retailers face but did not go far enough.
"In particular, more will need to be done to tackle
retailers' ongoing skills gaps," he said
(Reporting by William Schomberg
Editing by William James)
LONDON, March 27 (Reuters) - British retailers reported
their first positive sales expectations in seven months,
according to a survey published by the Confederation of British
Industry on Monday, adding to other recent signs of recovery in
the economy.
The CBI's (CBI) expected sales balance for April increased
to +9 from -18 in March. Apart from September's reading of +31,
the gauge of sales expectations has been negative in every month
since May of last year.
Sales in March were reported roughly flat at +1, little
changed from February's reading of +2. A Reuters poll of
economists had pointed to a reading of -6.
Consumers have been hit hard by an inflation rate that
remains about 10%, plus rising interest rates and the prospect
of higher taxes.
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