LONDON (Reuters) - British retail sales grew at a slower pace this month, a survey by the Confederation of British Industry suggested on Wednesday.
The CBI's monthly distributive trades survey's retail sales balance eased in May to +16 from +30 in April and below economists' forecasts of +35.
The survey of 136 firms showed retailers predict a pick-up in sales next month, with the index for expected June sales at +29.
"Although that growth was at a slower rate than expected, the fact we’ve seen a steady increase for six consecutive months is a sign we’re heading towards sustainable growth and strengthening consumer optimism...," said Barry Williams, Chair of the CBI Distributive Trades Survey Panel.
Consumer demand, buoyed by a strengthening housing market, has been the main driver of Britain's rapid economic recovery.
In the CBI's quarterly survey, the business situation index was +13 in May, down from +18 in February.
(Reporting by Ana Nicolaci da Costa and Andy Bruce)