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British retailers expect sales volumes to rise again in the year through August, after recording its first rise in five months in July, the latest monthly Distributive Trades Survey from the Confederation of British Industry (CBI) showed Monday.
The survey pointed out that 39 percent of firms expect an increase in sales volumes in August compared with 29 percent predicting a decline. This resulted in a rounded balance of 10 percent.
As much as 43 percent of firms reported that sales volumes were up on a year earlier in July and 26 percent said sales were down, yielding a balance of 17 percent. The balance was the highest since January 2013.
"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," CBI Director of Economics Stephen Gifford said.
According to him, though a positive knock-on effect on retail sales from the royal baby has been mooted, continued good weather and discounts will play a greater role in retail growth over the next month.
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