UK retailers report sales slump eased in February, CBI says

The pace of a sales decline for British retailers eased in February and a measure of inflation dropped to its weakest in nearly three years, according to industry figures which echoed official data published earlier this month. The Confederation of British Industry’s (CBI) monthly retail sales balance, a gauge of sales versus a year ago, rose to -7 from -50 in January, the slowest fall in 10 months. “The slump in retail activity eased in February following an exceedingly dreary start to the year,” Martin Sartorius, CBI principal economist, said.