Economy
This coverage explores how economic trends and policies affect the UK retail sector. Reporting focuses on GDP, inflation, consumer confidence, interest rates, and broader fiscal measures, assessing their impact on retail sales, pricing strategies, and operational decisions. Tailored for professionals evaluating market conditions, financial risks, and opportunities within a shifting economic landscape.
-
May- 2021 -12 MayEconomy
UK economy shrinks 1.5% in Q1 despite signs of recovery
The UK economy shrank by 1.5% during the first three months of the year due to the impact of the national lockdown. According to the latest figures by the ONS however, the contraction shows a marked improvement on the first lockdown last year when gross domestic product (GDP) contracted by…
Read More » -
Oct- 2020 -2 OctoberCoronavirus
Nearly half of UK firms report Q3 sales decrease
Business conditions remain weak in the third quarter of 2020, despite “much of the economy” reopening, according to the latest Quarterly Economic Survey from the British Chamber of Commerce (BCC). Its survey of 6,410 firms found that while key indicators have improved from the “historic lows” in Q2, they remain…
Read More » -
Sep- 2020 -24 SeptemberCoronavirus
Chancellor set to unveil furlough replacement after Budget cancellation
Chancellor Rishi Sunak has cancelled this year’s Budget but is set to unveil new measures aimed at protecting employment and the UK economy in parliament later today (24 September). It is thought the new measures will replace the current furlough scheme, which is set to expire at the end of…
Read More » -
7 SeptemberCoronavirus
60% of mid-sized businesses plan redundancies, BDO finds
More than half (60%) of the UK’s medium-sized businesses are planning redundancies as a result of the Government’s Coronavirus Job Retention Scheme coming to an end in October, according to new research from accountancy and business advisory firm, BDO. BDO’s monthly Rethinking the Economy survey of 500 medium-sized businesses across…
Read More » -
Jul- 2020 -6 JulyTips
How retailers can adapt in a post-Covid-19 economy
A post-Covid-19 world may seem like a distant reality for now. While there are advances in finding a cure or vaccine for the virus, there’s still no clarity on how close the world is from finally being free from the pandemic. However, a post-Covid-19 world may not be a complete…
Read More » -
Jun- 2020 -8 JuneComment
Retaining the value of stock in a circular economy
The equivalent to 350,000 tonnes of clothing, worth around £140 million, ends up in UK landfill each year, according to Clothes Aid. More consumers and retailers have come to realise the significant impact of unsustainable business on the environment, creating a momentous change and a huge growth in the circular…
Read More » -
May- 2020 -13 MayEconomy
UK economy shrinks by 2% as pandemic takes its toll
The UK’s economy shrank by 2% in the three months to 31 March 2020, as a result of the Covid-19 pandemic. This is according to new data from the Office for National Statistics (ONS), which also found that gross domestic product (GDP) fell by 5.8% during March, the largest fall…
Read More » -
Apr- 2020 -28 AprilCoronavirus
UK economy not expected to recover until 2023, study suggests
The UK’s economy is not expected to return to normal until 2023 due to the coronavirus pandemic, according to a new report issued by economic forecasting group EY Item Club. The group has warned that it is likely to take three years for the UK economy to return to the…
Read More » -
15 AprilCoronavirus
Covid-19 could cause UK economy to shrink by 35%, says OBR
The UK’s economy could shrink by as much as 35% in the second quarter of 2020 due to the Covid-19 pandemic, the Office for Budget Responsibility (OBR) has said. The watchdog is also predicting a 13% drop in annual GDP as a result of the outbreak, which it said would…
Read More » -
Mar- 2020 -24 MarchEconomy
Covid-19 brings UK economy to temporary standstill, says KPMG
The impact of the Covid-19 virus is expected to see the UK economy contract by 2.6% in 2020, according to KPMG UK’s latest quarterly Economic Outlook. A protracted outbreak could also result in a more severe impact than the downturn experienced in 2008-09. However, it said the economy is expected…
Read More »
