Economic Buzz: UK CBI Retail Sales Grow At Fastest Pace In 9 Months In June

UK retail sales grew at the fastest pace in nine months in June, the latest Distributive Trades survey from the Confederation of British Industry showed Wednesday. A balance of 32 percent of retailers said sales volumes increased in June and a net 20 percent said they placed more orders with suppliers than they did a year ago. Retail sales growth was fairly broad-based across retail sub-sectors. However, looking ahead, retailers expect growth in sales volumes and orders placed on suppliers to ease in the year to July. Only a balance of 18 percent expects sales volume to increase in July.