UK retail sales outlook to brighten

The CBI survey showed a plunge in the balance of reported sales from 39 to only 1 in February. 

Societe Generale views this as perhaps the last of the backwash from the heavy discounting in the Black Friday week which boosted sales in November. 

"The BRC retail survey which was taken later in February was stronger which reinforces our belief that the March CBI survey (which also catches the end of February) will record a strong bounce", added Societe Generale.