UK Feb Distributive Trades Survey
01.03.07
CBI-Retail Sales Balance +19 in Feb vs +30 in Jan
CBI-Retailer Quarterly Expected Selling Prices +19 in Feb vs -3in Nov. Highest since May 1999
British retail sales growth came off a two-year high in February but retailers are increasingly confident about pushing up prices today’s survey showed. The CBI said that its distributive trade’s survey reported sales balance came in at +19 in February after January’s reading of +30. Consensus forecasts had been for a figure of +20
The quarterly balance measuring retailers price expectations rose to +19 in February from -3 in November. That was the highest balance since May 1999
“The recent rally in pricing power, while good news for retailers will provide food for thought for interest rate watchers” said John Longworth, Chairman of the CBI’s Survey panel.
(Research Desk, written by Ben Parkinson)