Economy

Aug- 2021 -

12 August

UK economy surges 4.8% in June

The UK economy grew by 4.8% in June as Covid-19 restrictions surrounding retail and leisure were eased across the UK, according to figures published by the Office of National Statistics (ONS). Gross domestic product (GDP) is estimated to have grown for a fifth consecutive month in June 2021, by 1.0%,…

Jul- 2021 -

13 July

UK retail sales jump 13.1% in June

Total retail sales in the UK increased by 13.1% in June, according to the latest BRC-KPMG retail sales monitor. On a like-for-like basis, the country’s retail sales rose by 17% from June 2019, with non-food reporting a like-for-like sales jump of 47%. In the nation’s high street stores, sales were…

Jun- 2021 -

29 June

Footfall remains static due to variable weather

Footfall in the UK remained virtually unchanged over the past week due to variable weather conditions across the country, according to data analysts Springboard. For the week beginning 20 June 2021, week-on-week footfall only fell by 0.2%, which represents a 49.3% rise from the same period last year and a…

18 June

Return to restaurants sees retail sales fall by 1.4%

UK retail sales fell by 1.4% between April and May, following a sharp increase in April when retail restrictions were eased, according to data from the Office of National statistics (ONS). The largest contribution to the monthly decline came from grocery stores where sales volumes fell by 5.7% – the…

16 June

UK inflation hits 2.1% as clothing prices rise

Inflation in the UK rose to 2.1% in May, up from 1.5% in April, according to the latest figures from the Office for National Statistics (ONS). This increase has been fuelled by an increase in consumer spending as the British public comes out of lockdown. Meanwhile, clothing prices jumped by…

11 June

Retail boosted by ‘buoyant’ May sales

The UK’s retail sector in May has been boosted by “buoyant” sales, according to the British Retail Consortium (BRC). Over the period, sales increased by 10% on a year-on-two-years basis, against a decline of 2.7% in May 2019. This represents a rise from the three-month average growth of 8.5%. Due…

May- 2021 -

21 May

Consumer confidence jumps six points in May

Consumer confidence in the UK has increased by six points to -9 in May 2021, according to GfK’s Consumer Confidence Index. The market research company primarily attributed this to the easing of lockdown restrictions and vaccine rollout, which it believes gave the country’s retail sector a much-needed boost. While respondents…

18 May

Retail footfall rises 0.5% as shoppers return to high streets

UK retail footfall rose by 0.5% last week, predominantly driven by a 3.9% increase across UK high streets, as shoppers continued to return to high streets following the easing of restrictions last month. According to the latest data from Springboard, whilst retail footfall overall increased, retail parks footfall declined by 3.4%…

13 May

Pet stores report strongest April sales growth, Barclaycard finds

Pet stores and veterinarians saw the strongest sales growth out of any retail group in the specialist retailer category, according to Barclaycard’s report into consumer spending in April. Both vets and pet stores posted a 32.4% rise in sales over the period, compared to two years ago. In comparison, the…

Apr- 2021 -

28 April

Shop prices fall in April as non-essential retailers reopen

UK shop prices continued to drop in April as non-essential retailers reopened after lockdown, according to the BRC-Nielsen shop price index. In order to entice consumers, retailers decreased shop prices by 1.3% over the period, compared to the previous drop of 2.4% in March. However, the fall in non-food prices…