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Retail sales grow at fastest pace since January - CBI
July 29, 2013 / 10:05 AM / 4 years ago

Retail sales grow at fastest pace since January - CBI

LONDON (Reuters) - British retail sales rose at their fastest pace since January this month, a survey by the Confederation of British Industry showed on Monday, adding to signs economic growth is continuing in the second half of the year.

Shopping trolleys are seen parked at a Sainsbury's store in London May 8, 2013. REUTERS/Stefan Wermuth

The CBI distributive trades survey’s sales balance rose to +17 - matching January’s level - from June’s four-month high of +1.

The expected sales balance for August slipped to +10 from +13, though orders placed with suppliers rose at their fastest rate in six months.

“The feel-good factor from the heatwave and early summer sales has helped boost high street sales, after a very weak start to the year,” said Stephen Gifford, the CBI’s director of economics.

“A positive knock-on effect on retail sales from the royal baby has been mooted, but much more realistically, continued good weather and discounts will play a greater role in retail growth over the next month.”

Reporting by David Milliken

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