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CBI Realized Sales survey showed balance of +18%

Thursday, Mar 26 2015
Latest CBI survey on Realized Sales showed that 34% of respondents said volumes were up on a year ago, and 15% said they were down, giving a rounded balance of +18%. This was above forecasts on balance of +16%. Rain Newton-Smith, CBI Director for Economics, said: “Sales have recovered following a tough month in February for retailers, and we expect solid growth to continue through Easter."
 
“The outlook ahead is looking bright, with household incomes buoyed by zero inflation and improving pay packets, which will continue to encourage spending. However, the retail sector isn’t in the clear yet, with some companies, especially food retailers, still feeling the heat from stiff price competition.”
 
Data did not have major impact on the markets, with Sterling currently being traded around 1.4940 area. Pair is likely to find support around 1.4880 and resistance above 1.5050 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
More in this category: « U.K. Retail Sales rose by 0.7% in February Unemployment Claims decreased to 282,000 »

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