Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Nov- 2021 -15 November
Consumers to spend £21bn this Christmas, says PwC
One in four consumers intend to spend more this festive season, with an average £428 spend per person up from £384 last year, according to PwC’s festive predictions research. It revealed the increase, which is seen across all age ranges and regions, means a total spend of £21bn on presents…
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11 November
UK recovery slows to 1.3% in Q3
UK economic growth slowed to 1.3% in Q3, down from 5.5% in the second quarter of the year. According to the latest figures from the Office of National Statistics (ONS), the level of quarterly GDP is now 2.1% below where it was before the coronavirus pandemic at Quarter 4 (Oct…
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4 November
Footfall improves during October
October footfall saw a “noticeable improvement” to -13.4% lower than in 2019 compared with -17.4% in September, according to the latest figures from Springboard. The final week of the month, which included the October school half term, was “pivotal” in boosting footfall, shifting the average from -14.3% over the first…
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2 November
Footfall surges during half-term break
Footfall across UK retail destinations rose by 11.1% last week from the week before, according to latest data from Springboard. This is just shy of the 11.6% week on week increase in the week before the late May bank holiday. High streets and shopping centres benefited the most with rises…
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Oct- 2021 -22 October
Consumer confidence drops for third straight month
Consumer confidence has dropped for the third straight month in October, down four points to -17, according to the latest GfK Consumer Confidence Index. The long-running index found that all measures were down in comparison to September. It comes as the index measuring changes in personal finances over the last…
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22 October
September retail sales fall 0.2%, ONS reveals
September retail sales volumes fell by 0.2% and by 2.6% when compared with the same period in 2020, according to the latest Office of National Statistics (ONS) results. Non-food stores reported a fall of 1.4% in sales volumes in September 2021, which was mainly due to a 9.3% decrease in…
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20 October
UK Inflation falls to 3.1% despite rising fuel costs
UK inflation fell slightly in September to 3.1% despite rising fuel costs, according to the latest figures from the Office of National Statistics (ONS). The figure is down from 3.2% in August but still remains much higher than the Bank of England’s target of 2%. The largest upward contribution to…
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19 October
UK footfall return remains steady
Footfall across UK retail destinations declined marginally by -0.7% last week from the week before, according to Springboard. UK footfall last week was +28.1% higher than in the same week in 2020, which was a strong improvement from +24.5% in the week before. The fact that footfall did not change…
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18 October
The Hut Group owner surrenders golden share to reassure investors
Matthew Moulding, the boss and founder of the online beauty, nutrition and technology services group The Hut Group, is set to give up his golden share in the company in a bid to reassure investors. It was reported that The Hut Group, which floated just over a year ago, will…
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15 October
ProCook considers London IPO
ProCook has announced it is considering an initial public offering on the main market of the London Stock Exchange. Should ProCook proceed with the IPO, it said the admission would be to the premium listing segment of the Official List of the FCA and to trading on the main market…
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