This year’s late Easter timing has given retail sales a boost, ending a pattern of decline in sales figures for the last three months, the CBI Distributive Trades Survey reports.
While 36 per cent of retailers said that sales volumes in April were down compared to this time last year, 38 per cent reported an increase. A balance of plus two indicates sales broadly similar to the previous year.
However, CBI said retailers need to keep the better sales picture in perspective given that Easter should have boosted the annual growth rate. Sales expectations are below the seasonal norm for May at around -12 per cent.
John Longworth, Chairman of the CBI’s DTS Panel and executive director of Asda said: “April’s survey could be interpreted as an early sign of a mild revival on the high street. But let’s not jump the gun. The economy as a whole is still working below capacity and recent improvements in the manufacturing sector have not been led by demand for consumer goods.
“We will have to wait and see whether this summer’s World Cup yields the anticipated boost in sales and wait for signs of sustained ‘recovery’ to be confirmed. By the standards of recent years, the retail sector is still fairly depressed.”
