UK retailers positive on sales hopes

LONDON, Mar 27 (Reuters): British retailers reported their first positive sales expectations in seven months, according to a survey published by the Confederation of British Industry on Monday, adding to other recent signs of recovery in the economy.

The CBI's (CBI) expected sales balance for April increased to +9 from -18 in March. Apart from September's reading of +31, the gauge of sales expectations has been negative in every month since May of last year.

Sales in March were reported roughly flat at +1, little changed from February's reading of +2. A Reuters poll of economists had pointed to a reading of -6.

Consumers have been hit hard by an inflation rate that remains about 10%, plus rising interest rates and the prospect of higher taxes.