Recovery in UK spending should soon get back on track: Capital Economics

Quotes from Capital Economics:

- The fall in the reported sales balance of Feb's CBI Distributive Trades Survey from +39 in Jan to just +1 in Feb was disappointing. (Data released on Mon.) 

- However, we doubt that this heralds the beginning of a marked slowdown in consumer spending. The weakness should be taken in context of the survey's strong readings in both Dec and Jan. Some slowdown always seemed likely after a bumper festive season. 

- With earnings growth picking up and lower energy prices providing a substantial windfall to consumers, the recovery in spending should get back on track soon.