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CBI Realized Sales showed balance of +36%

Thursday, Jan 29 2015
The survey of 127 firms showed that whilst sales volumes grew at a slower pace than in the previous month - which benefitted from bumper Black Friday sales - the rate of growth remained healthy, and volumes were well above average for the time of year. Firm growth is anticipated again in the year to February. 50% of retailers said that sales volumes were up in January on a year ago, whilst 10% said they were down, giving a rounded balance of +39%. This was above expectations (+36%) .
 
Rain Newton-Smith, CBI Director of Economics, said:“After the sales bonanza of Black Friday cooled down, retailers saw solid footfall through the doors over the Christmas trading period, leading to further robust growth in sales in the New Year. However, under the spotlight of strong competition, some retailers are feeling the heat on their margins.“Falling oil prices and low inflation mean consumers have a bit more money in their pockets. We expect to see this translate into strong sales growth in the months ahead.”
 
Data did not have any major impact on the markets. Sterling is currently being traded around 1.5130 level. Pair is likely to find support around 1.51 handle, and resistance near 1.52180 area. Later today, in the US session Unemployment Claims figures are scheduled for a release.
Last modified on Thursday, 29 January 2015
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