CBI retail sales balance declines to +7% in March

Market news

24 March 2016

CBI retail sales balance declines to +7% in March

The Confederation of British Industry (CBI) released its retail sales balance data on Thursday. The CBI retail sales balance declined to +7% in March from +10% in February, missing expectations for a rise to +15%.

Sales are expected to rise next month, while orders are expected to be flat.

"Retailers are still face challenging global conditions but will welcome the Chancellor's Budget reforms to business rates, making it easier for them to operate on the high street. Continued low levels of inflation and more jobs will continue to boost household spending, also giving a helping hand to firms," CBI Director of Economics, Rain Newton-Smith, said.

Foreign exchange market. European session: the British pound traded higher against the U.S. dollar after the release of the mixed economic data from the U.K.

European stock markets mid session: stocks traded lower on lower oil prices

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