Throughout March, retail sales volumes remained substantially steady, beating the expectations of slow growth, according to the latest monthly Distributive Trades Survey from CBI.
The survey of 125 firms, comprising 63 retailers, found that sales volumes were stable in March with companies expecting an acceleration next month.
Meanwhile, orders placed on suppliers exceeded the falling expectations in March and reported reasonable growth over 2016.
Commenting on the findings, CBI Director, Rain Newton-Smith, said: “It’s encouraging to see that sales are holding up and expectations have picked up further. Retailers are still facing challenging global conditions but will welcome the Chancellor’s Budget reforms to business rates, making it easier for them to operate on the high street.
“Continued low levels of inflation and more jobs will continue to boost household spending, also giving a helping hand to firms.”
For the time of the year, retail sales growth was considered to be at an average level and companies indicated that they expect them to pick up next month.
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