Figures lower than last year for third month running
Retail sales figures for March are down on last year for the third month running, according to CBI data released today.

The CBI Distributive Trades Survey (DTS) showed that 35 per cent of retailers said sales were down, while only 16 per cent of retailers said they were up.

The figures are only marginally better than in February, when the gap between those reporting improving and deteriorating performance was -18 per cent.

The retailers polled said they expected a 'subdued' April, with a balance of -7 per cent expecting a worse month.

Sales of furniture and carpets showed the most impressive improvement. A more active housing market is thought to be the driving force behind the increase.

Chemists have benefited from the recent cold weather, showing the first year-on-year sales growth since December 2004. However, tough times are continuing for clothing and footwear retailers.

Asda executive director and chairman of the CBI's DTS panel John Longworth said: 'The marginal improvement on February is cold comfort to retailers, which continue to face the same tough conditions - subdued sales allied with rising costs.

'Companies' profits remain hemmed on all sides by rising rents, rates and energy costs, as well as environmental taxes and the minimum wage. There is still room for a quarter-point cut in interest rates over the next two months to help stimulate customer demand.'