27.07.201706:42:00UTC+00UK Retailers Report Strong Growth In July: CBI

British retailers reported pick up in sales during July, exceeding expectations for minimal growth, the latest monthly Distributive Trades Survey from the Confederation of British Industry revealed Thursday.

A balance of 22 percent reported an increase in sales in July, exceeding economists' forecast of 10 percent.

Looking ahead, retailers expect steady expansions in both sales and orders in the year to August. A balance of 20 percent expects sales volume to increase next month.

"While retailers expect a similar pace of growth next month, the factors underpinning their sales growth are more shaky," Anna Leach, CBI Head of Economic Intelligence, said.

"Although employment is strong, real incomes are falling in the wake of higher inflation, and that's expected to feed slower consumer spending growth ahead," she added.

The survey was conducted between June 28 and July 14.