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CBI Realized Sales survey showed increase in December

Monday, Dec 21 2015
High street sales growth accelerated in the year to December, according to the CBI’s latest monthly Distributive Trades Survey, which covers the crucial run-up to Christmas. The survey of 118 firms showed the volume of retails sales picked up in December, and was slightly above the average for the time of year, albeit below retailers’ expectations. Growth in retail sales volumes is expected to slow somewhat next month.
 
Growth in orders placed upon suppliers recovered in the twelve months to December, after falling in the previous month, but is expected to be flat in the year to January. Following Black Friday, internet sales volumes rose at their quickest pace since April, with the pace of growth expected to hold broadly steady in January. 43% of retailers said that sales volumes were up in December on a year ago, whilst 24% said they were down, giving a balance of +19%. This was an increase on the previous month (+7%), but below expectations (+31%)
 
Sterling is currently being traded around 1.49 handle. Pair is likely to find support around 1.4850 handle and resistance above 1.4950 level. There will be no major data releases in the rest of the session.
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