Economy
Economy explores the wider economic forces influencing the UK retail industry. This section covers inflation, consumer spending, interest rates, labour market conditions, and policy developments affecting retail performance and profitability. Retail Sectorโs Economy coverage provides expert analysis, data-driven insight, and commentary to help retail leaders, financial planners, and operational managers understand how macroeconomic trends are shaping demand, costs, and investment decisions across the sector.
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Sep- 2022 -15 September
Wickes sees H1 profits fall 6.2% to ยฃ33.5m
Wickes has reported that its profits before tax declined by 6.2% for the first half of 2022, to ยฃ33.5m compared with ยฃ35.7m for the same period last year.ย The company saw revenue growth of 1.3% to ยฃ822.3m from the 22 weeks ended 2 July 2022, compared with ยฃ812.0m in H1…
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14 September
Inflation falls in August but remains near 40-year high
UK inflation eased slightly in August to 9.9%, down from 10.1% in July, but remains near a 40-year high as prices continue to rise, according to the latest figures from the Office for National Statistics (ONS). On a monthly basis, CPI rose by 0.5% in August 2022, compared with a…
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13 September
Unemployment falls to lowest level since 1974
Unemployment has fallen to its lowest level since 1974, currently sitting at 3.6% for the three months to July, according to the latest figures from the Office for National Statistics (ONS). The ONS also found that while unemployment fell there was also a decrease in the employment rate, while the…
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12 September
Economic recovery slows in July
The UK economyโs growth slowed in July to 0.2% according to the latest figures from the Office for National Statistics (ONS). The result is below previous forecasts of 0.4% growth for the month as worker shortages and soaring costs weighed on activity. It found that services grew by 0.4% in…
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12 September
BoE delays interest rates decision
The Bank of England (BoE) has delayed its interest rates decision for one week, following the death of Queen Elizabeth II. The meeting of the Monetary Policy Committee, which was expected to further raise interest rates, is now expected to be held at 12pm on 22 September, in light of…
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9 September
UK workers face ยฃ2,000 hit to real wages
UK workers are facing a ยฃ2,000 hit to their real wages by the end of 2022 as the UK economy confronts a โhighly volatile and uncertainโ inflationary outlook, according to the latest PwC Economic Outlook. PwC expects that the UK will likely report growth of between 3.6% in the โmild…
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8 September
Energy bills to be capped at ยฃ2,500 a year from October
Prime minister Liz Truss has announced today that energy bills for typical households will be capped at ยฃ2,500 annually for their gas and electricity bills from the start of this coming October. The news comes as her first major policy announcement, and according to Sky News, the new price guarantee…
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6 September
UK retail sales slow in August
UK retail sales slowed in August as total sales increased by 1.0% compared withย an increase of 3% in August 2021, above the 3-month average of 0.7% but below the 12 month average growth of 2.5%, according to data from the British Retail Consortium (BRC) and KPMG retail monitor.ย ย From…
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5 September
UK retail sector M&A deals increase 21% on last year
The number of M&A deals targeting UK retailers has increased by 21% in the last year, up from 28 transactions to 34 in the last 12 months, as deals in the sector โbuck the overall slowdown in M&Aโ, according to RPC, the international law firm. Overall, UK M&A activity has…
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Aug- 2022 -31 August
Food prices rise at fastest rate since 2008, BRC finds
New data from the British Retail Consortium (BRC) and NielsenIQ index has shown that food prices have risen at their fastest rate since 2008 in August, with an increase of 9.3% after an initial 7% increase last month.ย The BRC reported that fresh food was more than 10% more expensive…
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