UK Retailers Toil in March but See Better Times Ahead - SolidRumor.com

UK Retailers Toil in March but See Better Times Ahead

 UK Retailers Toil in March but See Better Times Ahead

Social distancing restrictions and lockdowns have effected retail in the UK. Shutterstock.

British retailers have endured another difficult month in March but are optimistic of a sales surge in April, when Covid-19 lockdown restrictions are due to be lifted partially, a survey showed on Thursday.

The Confederation of British Industry’s monthly gauge of retail sales was steady at -45 in March. A Reuters poll of economists had pointed to a small improvement to -37.

However, expectations for sales next month turned positive for the first time since December 2019.

“Retailers are looking forward to April with a sense of optimism, given the potential re-opening of the sector across the UK,” Ben Jones, principal economist at the CBI, said.

“Expectations point to a fairly muted recovery, especially when considering that base effects will tend to flatter annual growth next month, given the historic drop in sales in April 2020.”

By Andy Bruce; Editor: William Schomberg

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