Retail sales volumes rose strongly in May compared to a year ago, and sentiment regarding the business situation for the next quarter has improved. But sales were still reported to be below average for the time of year. The CBI’s latest quarterly Distributive Trades Survey, conducted over the first two weeks of May, shows that 43% of retailers reported an increase in their volume of sales compared to a year ago, and 23% said they had seen a fall. The resulting rounded balance of +21% was broadly in line with expectations (+19%). Sentiment regarding the business situation for the next three months has also turned ... (full story)