UK retail sales fall unexpectedly in April - CBI
LONDON (Reuters) - British retail sales fell in April for the first time in eight months, a survey by the Confederation of British Industry showed on Wednesday.
The sales balance in the CBI's monthly distributive trades survey dropped to -1 from zero in March, its weakest since August. Analysts had expected a modest rise.
The expected sales balance for May dropped to -6, its lowest since February 2012.
"Retailers were frustrated this month by the ongoing stagnation in sales growth," said Barry Williams, an executive at supermarket chain Asda and chair of the CBI panel. "This may be explained in part by the unseasonal weather we suffered, but there is no doubt that high street conditions are tricky with consumers lacking the confidence to go out and spend."
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