26/02/2010 - High street sale volumes 'recover'
February has seen the high street post its strongest growth in retail sales in more than two years, the CBI said.
Figures show clothing, grocers, household and furniture stores all performed particularly well this month, beating market forecasts.
The distributive trades survey showed that 46% of retailers saw sales volumes increase compared to the same time last year, while 23% said sales were worse. The 23% balance is the highest reading since May 2007.
Chairman of the CBI distributive trades panel Andy Clarke said: "Sales have been stronger this month than many retailers predicted they would be, but that's not surprising as January was impacted by VAT changes and forward buys in December."
The figures are a "clear improvement", the CBI said, after official data showed sale volumes fell by 1.8% in January.
The CBI survey found a 16% balance of retailers expect growth in March to be stronger than a year ago, although over the next three months the business situation is expected to be broadly stable.
Mr Clarke added: "While retailers see some growth ahead, the road to recovery through 2010 is likely to be fragile.
"Worries about the economy and upcoming pay freezes are likely to ensure that shoppers remain cautious."
Copyright © Press Association 2010
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