Retail figures stabilising but future remains on shaky ground

A LEADING business group says sales on the high street are stabilising, but retailers still expect conditions to remain subdued.

The same number of retailers reported a fall and rise in sales in the first two weeks of March, according to the CBI’s latest survey, following an overall decline in February.

The survey comes after official figures revealed a gloomier-than-expected picture of the retail sector, with sales falling in February and growing by less than previously thought in January.

Judith McKenna, chair of the CBI distributive trades panel and chief operating officer at supermarket Asda, said: “The general retail outlook remains tough and firms expect volumes of sales and orders to fall next month.

“The squeeze on people’s pockets continues to bite, despite a recent fall in inflation, with wage growth modest and fuel costs remaining high.”