UK retail sales surge in August, optimism highest since 2002 - CBI

Reuters
Shoppers walk through a retail centre in Royal Tunbridge Wells, southern England August 15, 2013. REUTERS/Neil Hall

LONDON, Aug 28 (Reuters) - British retail sales grew this month at the fastest pace in six months, according to a survey on Wednesday that showed retailers' optimism about the next three months showed its biggest improvement in over 12 years. The Confederation of British Industry's distributive trades survey's retail sales balance rose to +37 in August, its highest level since February, from +21 in July and well above economists' forecasts of +27. Sales expectations for September rose to +42, a four-month high. The CBI's quarterly survey showed retailers' optimism about the business situation for the next quarter hit its highest level since May 2002. "The high streets have been bustling with shoppers this summer and it is good to see firms so optimistic," said Katja Hall, the CBI's deputy director-general. "Retailers looking forward to stronger growth in September are keeping their shelves well-stocked in anticipation," she added. (Reporting by Andy Bruce; Editing by David Milliken)