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Articles about cbi
CBI surveys forecast economic growth of 1 per cent this year Monday, 13th May 2013
Photo credit: My-Retail Media
Britain starts to show signs of economic recovery as business activity picks up, The Guardian reported on Monday.
Surveys published by the CBI suggest the UK is on the road to recovery after its double-dip recession.
CBI forecast economic growth of 1 per cent this year and 2 per cent in 2014. This is in stark contrast to IMF who forecasted a dip of 1 per cent to 0.7 per cent in the UK.
John Cridland, director general of business lobby group CBI, said: "The UK economy is moving from flat to growth."
He did warn however, "Although recent data suggests rising business confidence, the economic climate remains tough, hampering demand here and overseas. Meanwhile, consumers remain under pressure, as inflation continues to outstrip wage growth."
It also seems that Britons are parting with their cash more readily, with a 3.6 per cent growth in spending from last year, Barclaycard confirmed. Cinema and theatre ticket sales grew 21 per cent and restaurant spending rose 11 per cent on last year. Other sectors to benefit from consumer spending is the DIY industry, which saw an 8.5 per cent rise from April last year.
It seems that online retail continues to outstrip the high street too, with an 11.7 per cent rise from last year, next to a comparatively low 1.7 per cent increase in bricks and mortar stores.
Valerie Soranno Keating, chief executive of Barclaycard, said: "Although economic data is generally mixed, this is the first time since 2011 that we've seen growth above 2% for three consecutive months, which may suggest a more sustained improvement in sentiment."
Posted in Entertainment, Home & DIY News, Online retail, Retail Industry Tagged CBI, Guardian, John Cridland, director general of business, recession, Valerie Soranno Keating, Barclaycard, cinema, theatre, DIY, restaurant, online retail, bricks and mortar
British retail sales fall for first time in eight months Wednesday, 24th April 2013
Photo credit: My Retail Media
British retail sales fell in April for the first time in eight months, as unseasonal weather took its toll on the high street.
The Confederation of British Industry on Wednesday found the sales balance in its monthly distributive trades survey dropped to -1 from zero in March. The figure is the weakest result since August, and comes despite analysts’ forecasts for a modest rise.
"Retailers were frustrated this month by the ongoing stagnation in sales growth," said Barry Williams, chief merchandising officer for food at Asda and chairman of the CBI. "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."
In light of the new results, May’s expected balance dropped down to -6, its lowest since February 2012.
Posted in Retail Industry Tagged cbi, retail, high, street, statistics, may, april, march
March retail sales weakest since August as snow keeps shoppers away Tuesday, 26th March 2013
Photo credit: My Retail Media
British retail sales in March come in flat compared with a year ago, according to the latest report by the Confederation of British Industry.
The CBI said volumes for March retail sales had fallen below average for the time of year and were weaker than anticipated, as an especially cold winter refused to shift, despite the official start of springtime. British retail sales were flat for March compared with a year ago, falling to zero from +8 in February, while analysts had forecast a reading of +11 for the month.
Despite the chilly outlook, the CBI reported that most of 118 businesses surveyed in the monthly survey expected a return to growth in April, up to +15 from the initial forecast of +9.
"This month we've seen the glimmer of hope for retailers fade away, with the news that six months of sales growth has come to an end," said Barry Williams, supermarket Asda's chief merchandising officer for food and chair of the CBI distributive trades survey panel.
"All eyes are now on April when retailers expect sales to return to form. However, pay freezes and the rising cost of living are hitting households hard and, added to a challenging economic picture, there may well be more touch trading conditions ahead."
The CBI cited poor sales in clothing, footwear and leather categories as a possible factor for slow trading, as consumers were possibly reluctant to invest in spring apparel while the frosty weather persisted.
Posted in Retail Industry Tagged retail, industry, shop, volume, sales, trade, march, february, cbi, confederation of british industry, uk, britain
January retail sales rise ahead of expectations Thursday, 24th January 2013
Photo credit: My Retail Media
A much-needed “touch of sparkle” was added to the retail sector on Thursday after it was reported sales rose more than forecast in January and an improvement is expected to continue.
The Confederation of British Industry (CBI) reported that its distributive trades survey fell to +17 from +19, sitting comfortably ahead of analysts’ forecast of +12 for the first month of the year. What’s more the expected sales balance for February rose to +13 from +10 for January.
"Despite mixed news from the high street over the past few weeks, strong sales growth in the grocery sector has added a touch of sparkle to overall retail sales," said Judith McKenna, chief operating officer of Asda and chairwoman of the CBI panel.
"However, we are far from out of the woods," she added.
According to the CBI findings, sales of furniture and carpets, along with non-store trading including online sales were strong, while retailers of durable household goods were said to suffer.
Posted in Retail Industry Tagged cbi, retail, profit, sale, high street, confederation, british, industry, britain, brit, results, judith mckenna
CBI reports on lacklustre performance for December retail sales Wednesday, 19th December 2012
Photo credit: My Retail Media
A survey by the Confederation of British Industry (CBI) found retailer sales grew less than forecast for the first two weeks of December, as retailers fear the beginning of a weak peak trading period this Christmas.
Despite retail sales volumes growing in the year to December for the first time in seven months, the results were considered poor for the peak trading season.
CBI’s distributive trades survey found the sales balance fell to +19 after registering its highest result for five months in November with +33. Analysts had forecast a softer decline of +25 for the final month of the year, traditionally one of the sector’s busiest.
Grocers reported a 52 per cent rise in sales volumes on a year ago, with non-store category retailers, such as mail order and online companies, seeing a 91 per cent increase.
Retailers of big ticket items were hit the hardest, suffering an 100 per cent decline in sales volumes, while sales in clothing came in flat for the beginning of December.
“Early discounting helped retailers add a little extra sparkle to their sales in December, although the reprieve appears to only be temporary as they don’t expect sales to continue to grow into January.” Judith McKenna, chair of the CBI Distributive Trades Panel and ASDA Chief Operations Officer said, adding:
“Consumers are continuing to hold off on purchasing big ticket items, including durable household goods, preferring to use their hard-earned cash to stock up for Christmas dinner and all important gifts for the family.”
CBI’s report comes a day ahead of the Office for National Statistics report on Thursday, which will reveal November’s retail sales performance, including the first two weeks of peak trading in the UK.
Posted in Retail Industry Tagged cbi, confederation, british, industry, december, peak, trading, retail, statistics, sector
It’s a ‘mini-miracle’: British firms plan to add staff in next 12 months Monday, 29th October 2012
Having emerged from a nine month recession by the skin of its teeth, the UK’s economy could be in for another boost, as research shows British firms plan to hire more staff in the next 12 months.
Business lobby CBI surveyed 300 firms, with over 1.4 million employees between them, and found 35 per cent of employers expected staffing levels to rise in the next 12 months, while just 15 per cent saw them shrinking.
Despite the resulting balance of +20 coming beneath last year’s levels, CBI said the results of the survey still bode well for the UK’s labour market.
"The performance of our flexible labour market in generating jobs in a sluggish economy is a mini-miracle," said CBI chief policy director Katja Hall.
"Businesses look set to continue with the positive but cautious approach to hiring that we've seen over the past couple of years, and this is echoed in expected pay restraint designed to protect employment," Hall added.
Posted in Retail Industry Tagged people, uk, firm, business, labour market, recession, cbi, results, figures, statistics
September brings lift for UK retail sales Wednesday, 26th September 2012
Photo credit: My Retail Media
The latest figures from the Confederation of British Industry show a modest lift in retail sales for September, while retailers are said to expect further improvements for October.
According to the CBI’s sales balance rose +6 in September, beating analysts’ forecasts of a +5 rise. October’s sales balance now stands at +15, after September’s trade was able to pull around a -3 result in August.
"While the squeeze on family budgets may have eased in the short-term thanks to the fall in inflation, ongoing economic fragility, reflecting uncertainty around the international outlook, could affect household spending later in the year," said Judith McKenna, chief operating officer of Asda and chairwoman of the CBI panel.
Supermarkets, shoe shops and chemists led the growth in September, while DIY retailers and recreational goods suffered from a stagnant economy and consumer cutbacks in the home.
Posted in Retail Industry Tagged cbi, report, retail, september, trade, august, october, food, diy, confederation of british industry
July brings weaker-than-expected retail sales Monday, 30th July 2012
Photo credit: My Retail Media
Retail sales rose slower than anticipated for July as rainfall and weak consumer confidence continued to cast a shadow over sales.
The latest figures from the Confederation of British Industry’s (CBI) distributive trade survey (DTS) found July’s sales balance fell to +11 from its 18-month high of +42 in June. This compares with an analyst forecast of a drop to +15.
"Retailers reported an annual rise in sales and orders for the third month in a row, but the increase was far slower than firms had anticipated," said Judith McKenna, Asda chief operating officer and chairwoman of the DTS panel.
"The unprecedented poor weather for the time of year did not help, but retailers also expect conditions to remain tough during August. With consumer confidence weak and wage growth remaining sluggish, the longer-term outlook for retailers remains challenging."
According to the CBI, strong trading at grocers, furniture retailers, clothing and footwear brands were still unable to offset weak sales volumes at department stores.
However, economists are expected to treat the figures with a degree of caution after CBI’s supposedly impressive rise in retail sales for June went undetected by official data.
Posted in Retail Industry Tagged cbi, retail, industry, report, judith, mckenna, july, asda, confederation of british industry
British retail sales grow faster than expected for May Tuesday, 29th May 2012
Photo credit: My Retail Media
The latest figures by the Confederation of British Industry (CBI) show retail sales grew much faster than expected in May, reporting their strongest lift in over a year.
Improved sales of clothing and durable goods led to a +21 rise in the sales balance for May, up from -6 in April. CBI’s monthly distributed trade survey said the results beat economists’ forecast expectations for a -7 reading and a +19 balance expected by retailers.
It’s the highest the counter has reached since April 2011, with June now expected to reach +25.
Posted in Retail Industry Tagged retail, sales, cbi, report, figures, release, numbers, confederations of british industry, april, may
Don’t believe the hype: Scottish business leaders remain cautious of retail results Thursday, 3rd May 2012
Despite reporting a growth in retail sales for the first quarter, Scotland’s business leaders have warned that the state of the high streets remain “fragile” against challenging conditions.
The latest Scottish retail index saw sales volumes rise 0.7 per cent in the first quarter of 2012, resulting in an annual growth rate of 0.6 per cent, marginally ahead of the UK’s overall 0.4 per cent rate.
Analysts were quick to suggest that while modest, the growth could suggest Scotland’s consumers had recovered some of their confidence. However, research by CBI Scotland showed that the “situation on our high streets remains fragile”, with consumers still holding off from buying bigger-ticket items.”
David Lonsdale, CBI Scotland’s assistant director said: “Retailers report that they are taking a cautious approach towards investment, and unfortunately the Scottish Government’s new £95 million business rates tax on retailers is unlikely to help.”
Tagged scotland, edinburgh, glasgow, retail, results, shopping, centre, cbi, david lonsdale
