GDP
This coverage examines how UK gross domestic product (GDP) trends affect the retail sector, analysing economic growth, consumer confidence, and spending behaviour. Reporting highlights the implications of GDP fluctuations for retail sales, investment decisions, and operational planning — offering insight for executives, managers, and professionals responding to wider economic conditions.
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Nov- 2020 -12 NovemberEconomy
UK GDP recovers 15.5% in Q3
The UK economy showed signs of recovery in Q3 as GDP grew a record 15.5% from July to September. The latest figures from the Office of National Statistics ( ONS) come after the UK suffered its largest ever decrease in GDP of 20.4% in Q2. This means that despite the…
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5 NovemberCoronavirus
Bank of England unveils £150bn covid support package
The Bank of England (BoE) has unveiled it will give the UK economy a further £150bn in crisis support and keep interest rates at a record low, due to the rapid rise in Covid-19 restrictions across the country. At the Banks latest Monetary Policy Committee (MPC), members stated that the…
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Sep- 2020 -7 SeptemberEconomy
GDP to contract £15.3bn each year if home working persists
Lower consumer spending and a decrease in economic clustering if pandemic levels of home working persist would reduce UK GDP by £15.3bn every year, according to new research published by PwC. The ‘Big Four’ accountancy firm said the hit to consumption is a result of office workers spending fewer days…
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Aug- 2020 -24 AugustEconomy
Record economic growth anticipated for Q3
The UK is reportedly on track for a record economic resurgence during the third quarter of the year, following sharp declines in GDP at the peak of the Covid-19 pandemic in Q2. According to the Financial Times (FT), City of London economists have predicted a 14.3% rise in GDP for…
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12 AugustEconomy
UK in recession following 20% GDP slump
The UK economy has entered into a technical recession following a “record” fall in gross domestic product (GDP) during the second quarter of the year. According to the Office for National Statistics, GDP slumped by 20.4% between April and June 2020, compared with the 2.2% drop seen during Q1 2020…
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Jul- 2020 -17 JulyCoronavirus
BFC calls on government support of fashion industry
The British Fashion Council (BFC) has called on the government to provide more support for Britain’s fashion industry in the wake of Covid. It comes as the group today released new data from Oxford Economics that “reinforces the stark reality of the impact of the global pandemic on the British…
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Jun- 2020 -30 JuneEconomy
Revised ONS data reveals greater GDP drop in Q1 2020
The UK’s gross domestic product (GDP) in volume terms fell by 2.2% in Q1 2020, which has been revised downwards by 0.2 percentage points from the Office for National Statisitic’s (ONS) first quarterly estimate. The ONS said it is the largest fall in UK GDP since Q3 1979, when it…
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19 JuneEconomy
UK consumer confidence rises in June
GfK’s long-running Consumer Confidence Index increased by six points to -30 in June. The measure for the general economic situation of the country during the last 12 months has improved by one point to -59, but is still 27 points lower than in June 2019. Expectations for the general economic…
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12 JuneEconomy
UK GDP slumps over 20% in April as full impact of Covid-19 is felt
GDP slumped by 20.4% in April 2020, following a fall of 5.8% in March, according to the latest figures from the Office for National Statistics (ONS). It is the biggest monthly fall since the ONS’ series began in 1997, with the measure also falling by 10.4% in the three months…
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10 JuneEconomy
UK GDP expected to decline 7.2% in 2020 amid ongoing pandemic
The continuing impact of the Covid-19 virus is expected to see the UK economy contract by 7.2% in 2020, with the economy unlikely to be able to fully restart until a vaccine or effective treatments for the virus are available. This is according to KPMG UK’s latest quarterly Economic Outlook,…
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