Retail sales grow but at slower pace
Retail sales grew again in the year to March, although at a slower rate than in February, according to the CBI.
Grocers’ sales grew solidly, but at the slowest rate in four months and, along with falling sales in non-specialised stores (such as department stores), this contributed to overall weaker annual growth.
However, internet retail sales volumes continued to rise strongly in the year to March, with the pace of growth remaining in line with its long-run average.
Sales are expected to pick up again in the year to April and if realised, this will bring the growth rate back into line with February, which was the strongest seen since the onset of the financial crisis, the CBI reports.