UK retail sales subdued in May - CBI

  • 5/25/2021
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LONDON, May 25 (Reuters) - British retailers reported a return to normal for sales volumes this month after a flurry of demand in April when lockdown restrictions lifted for non-essential shops, the Confederation of British Industry said on Tuesday. The CBI’s balance for sales for the time of year dropped to -3 in May from +16 in April, indicating roughly normal sales volumes. “The fact that sales were in line with seasonal norms is a definite improvement from earlier in the year, but this month’s survey was perhaps a touch disappointing after April’s stronger results,” CBI economist Ben Jones said. The CBI said its measure of sales for the time of year gave a clearer signal than its headline measure of sales, which asks retailers to compare demand against a year earlier, when most shops were shut due to the lockdown. That measure fell to +18 in May from +20 in April, well below economists’ forecasts in a Reuters poll for it to rise to +30. (Reporting by David Milliken, editing by Andy Bruce) Our Standards: The Thomson Reuters Trust Principles.

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