U.K. RETAILERS SEE GROWTH IN CONSUMER SPENDING
U.K. Retailers expect consumer spending
to accelerate in March after a disappointing increase in
February, according to a monthly survey by the Confederation of
British Industry (CBI).
    Fifty-nine pct of the 325 retailers questioned for the
latest Distributive Trades Survey expected sales to be higher
in March than they were in March 1986, with only six pct
expecting lower sales.
    The chairman of the Distributive Trades Survey Panel, Nigel
Whittaker, said a favourable Budget next week would further
help sales during the summer.
    Figures released earlier this week showed retail sales in
January fell 2.2 pct, mainly due to exceptionally cold weather.
    "Sales did not recover in February as much as retailers had
expected, and they are now looking for better business in
March," today's survey said.
    It reported clothing stores were the most optimistic, with
80 pct expecting sales in March to be higher than a year ago.
    Wholesalers also expected stronger sales in March, while
both retailers and wholesalers reported slower growth in import
penetration, it said.
 REUTER
