Economy

May- 2021 -

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…

27 April

Consumer confidence rises due to ‘roadmap’ out of lockdown

During the first three months of 2021, consumer confidence saw a record quarterly rise thanks to the government’s “roadmap” out of lockdown, according to the latest Deloitte Consumer Tracker. In the firm’s survey of 3,000 UK consumers between 19 and 22 March 2021, while most of the country was still…

14 April

First day of reopening sees UK footfall rise 155%

The first day of reopening saw footfall in UK retail destinations rose yesterday by +155.2% from the same day last week, and by +225.2% in shopping centres, according to the latest data from Springboard. It found the rise in footfall in high streets was slightly lower at +176.1% and was perhaps…

7 April

UK retail footfall rises as lockdown comes to end

Footfall across all retail destinations in the UK has jumped by 8.5% in the last week, from the week before, as consumers prepare for the country’s exit from lockdown. Retail parks and high streets saw a footfall increase of 9% and 9.7%, according to data analyst Springboard. Meanwhile, footfall in…

Mar- 2021 -

26 March

Retail sales begin to recover in February

Retail sales volumes witnessed a partial recovery in February with an increase of 2.1% when compared with the 8.2% fall seen in the previous month, according to the latest figures from the ONS. In total, sales were still down by 3.7% against last year before the impact of the coronavirus…

22 March

Gov launches £56m high street fund

The government has announced a new £56m investment into UK high streets and seaside towns to ensure a “successful reopening” of the sector this summer. The ‘Welcome Back Fund’ aims to help councils improve the “look and feel” of local high streets, by investing in street planting, parks, green spaces…

12 March

UK GDP shrinks 2.9% amid January lockdown

Monthly GDP fell by 2.9% in January as a national lockdown proved to impact economic activity, new data from the Office for National Statistics (ONS) reveals. Figures released show that January’s GDP was 9.0% below the levels seen in February 2020, and 4.0% below October 2020 – the “initial recovery…

3 March

Budget 2021: Chancellor unveils new £65bn support package

Chancellor Rishi Sunak has outlined a new £65bn support package in his March budget, confirming the decision to extend the furlough scheme until the end of September as well as new loan schemes of up to £10m for businesses. In what is Sunak’s second budget since he joined office in…

Feb- 2021 -

12 February

UK suffers record 9.9% GDP slump

GDP declined by 9.9% in 2020, a figure which is more than double of what was recorded in 2009 after the UK’s financial crisis. According to the ONS, the fall was largely due to restrictions which were in place for most of the year, forcing the economy to operate at limiting trading levels. Figures…