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CBI Realized Sales Index increased more than expected

Thursday, Aug 25 2016

35% of retailers said that sales volumes were up in August on a year ago, whilst 26% said they were down, giving a balance of +9%. This was above expectations (-12%), and a marked improvement on the previous month’s balance (-14%)25% of respondents expect sales volumes to increase next month, with 22% expecting a decrease, giving a balance of +3%.

Anna Leach, CBI Head of Economic Analysis and Surveys, said: “The summer weather has brought shoppers out onto the high street with retailers reporting that sales growth has risen, outdoing expectations, although firms do expect sales growth to ease next month. While the fall in Sterling has boosted visitor numbers to the UK, it is likely to push up the price of imported goods over time which will mean households will be more likely to rein back spending on non-essentials.”

 

Sterling is currently being traded around 1.3180 level. Pair is likely to find support around 1.3150 area and resistance above 1.3330 area.

Last modified on Thursday, 25 August 2016
More in this category: « German Business Climate down to 106.2 Unemployment Claims dipped to 261,000 »

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