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Unexpected rise in retail sales

1 May 2009

The latest retail sales figures from the Confederation of British Industry (CBI) showed a `widely unexpected` rise in the 12 months to mid-April.

In its Distributive Trades Survey, the CBI found that 44% of retailers experienced an increase in year-on-year sales volumes, while 41% said they experienced a decrease.

The resulting `balance` of +3% is the CBI`s highest figure since January 2008.

However, it added that retailers did not expect the improvements to last, with a balance of 15% expecting sales to decline once again in May.

The retail industry has struggled in recent months as consumers have increasingly opted to avoid making unnecessary purchases and stay out of debt.

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