FXstreet.com (Barcelona) - Retail sales balance declined in January to its lowest level since November 2006, continuing with the downward trend sales are going on since last April, although some retailers do forecast improvements over the coming months, according to the latest report by the Confederation of British Industry.

A balance of 4% reported increasing sales in year-on-year terms, down from the 8% balance posted in December. However, a balance of 10% of the retailers expect conditions improving in the next month, although the increase is expected to be somewhat softer than the average for the second half of 2007.

Orders placed by suppliers have grown slightly on the year to January, but they remain below the rate seen in 2007.