Hopes of retail bounceback fade
The UK retail sector failed to bounce back from its recent weather woes despite widespread discounting in January, the CBI said yesterday.
The CBI's latest distributive trades survey points to a further slowing in the rate of retail sales growth, although a majority of respondents still reported seeing sales volumes rise in the two-week period from 4 January.
Ian McCafferty, the CBI's chief economic adviser, said confidence was even lower for February.
"Retailers can expect a challenging period ahead," he said.