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High street SMEs 'confident about sales'

Published On 3 May 2007 at 09:01:57

Retail vendors performed strongly in the first half of April, according to new figures from the Confederation of British Industry (CBI).

CBI data showed that high street retailers enjoyed increasing sales in April, with the number of businesses - including small and medium-sized enterprises (SMEs) - reporting year-on-year improvements reaching a three-year high.

Nearly two thirds (64 per cent) of businesses the CBI questioned said that sales had increased compared to a year ago. Only 20 per cent thought that they were in a worse position now than in April 2006.

Equally, retailers showed that they were confident about the future - 36 per cent more thought sales would grow than thought they would shrink.

"Sales grew strongly over the first two weeks of April, surpassing expectations and ensuring another very pleasing month for the high street," said John Longworth, chairman of the CBI's distributive trades survey panel.

"Retailers were helped by buoyant Easter trading and unusually warm weather, which may have boosted sales in sectors like groceries and DIY.

"Looking ahead, retailers expect demand to remain strong as we head into the summer and the recent trend of healthy sales growth looks set to continue."

However, SMEs will be anxiously waiting for the Bank of England's decision next week over interest rates. After statistics published earlier this month showed that inflation breached three per cent, many expect interest rate to be increased.

 

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