The Confederation of British Industry's distributive trades survey has shown that retail sales in the UK for March slowed by more than expected. However, sales for April are anticipated to be at the highest since December 2010.

The report said that March’s sales balance fell to +13, its lowest since November, compared with February's +37. Meanwhile, expected sales balance for April rose to +36, its highest since December 2010.

"The pace of growth has slowed, likely in part down to the later timing of Mother's Day and Easter this year," said Barry Williams, who chairs the CBI survey panel and is a senior executive at Asda, Wal-Mart's British supermarket chain.

"Conversely, this is the same reason many retailers are looking forward to more robust growth next month."