UK retailers expect sales volume to return to growth next month for the first time since last September, survey data from the Confederation of British Industry showed on Monday.
The retail sales balance fell slightly to 1 percent in March from 2 percent in February, the latest Distributive Trends Survey showed. Nonetheless, the balance was better than economists' forecast of -6 percent.
A net 9 percent forecast sales to rise in April, marking the first positive growth expectations since September 2022.
About net 12 percent of respondents judged sales to be good for this time of the year compared to 6 percent in February. A net 13 percent expect sales to exceed seasonal norms next month.
The survey also showed that internet sales continued to fall at a firm pace in March. A net 26 percent of retailers said sales declined in March, but less than the 30 percent in February.
"It's encouraging that activity in the retail sector showed signs of stabilising after a challenging winter," CBI Principal Economist Martin Sartorius said.
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