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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Feb- 2024 -15 FebruaryEconomy
UK enters technical recession as GDP contracts 0.3% in Q4
The UK fell into a technical recession after gross domestic product (GDP) shrank by 0.3% in the final three months of 2023, according to the ONS latest report. The news marks the first time the UK has entered a recession since the first half of 2020, when the initial Covid-19…
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Jan- 2024 -12 JanuaryNews
Today’s news in brief-12/1/24
Authentic Brands Group has acquired Sperry, a renowned American heritage footwear brand known for its iconic boat shoes with a 90-year heritage. The Aldo Group joins as Sperry’s North American operating partner for wholesale, e-commerce, and store operations. Authentic Brands plans to use its global network and operating partners to…
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12 JanuaryEconomy
UK economy rebounds in Nov
The UK economy rebounded in November as monthly GDP increased 0.3% off the back on a 0.3% fall in October, according to the latest data from the Office for National Statistics (ONS). The ONS said services output jumped 0.4% in November 2023 and was the main contributor to the monthly…
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Nov- 2023 -10 NovemberNews
Today’s news in brief-10/11/23
The Office for National Statistics (ONS) has reported that the UK GDP showed no growth in Q3 2023, in contrast to a 0.2% increase in the previous quarter. Year-on-year, GDP increased by 0.6% in Q3. The services sector saw a 0.1% fall, offset by a 0.1% increase in construction output…
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10 NovemberEconomy
UK economy stagnates in Q3
UK GDP has shown no growth in July-September (Q3) compared with an increase of 0.2% in the previous quarter, according to the latest data from the Office for National Statistics (ONS). Compared with the same quarter a year ago, GDP is estimated to have increased by 0.6% in Q3 2023.…
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Oct- 2023 -12 OctoberNews
Today’s news in brief-12/10/23
Next is reportedly in the final stages of acquiring clothing brand FatFace in a deal worth over £100 million. This move follows Next’s recent acquisitions, including a majority stake in Reiss, the brand name and assets of Cath Kidston, and the acquisition of Made.com. The group also has investments in…
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12 OctoberEconomy
UK economy improves slightly in August
The UK economy is estimated to have grown by 0.2% in August 2023, following a fall of 0.6% in July 2023, according to the latest figures from the ONS. Looking at the broader picture, GDP showed 0.3% growth in the three months to August 2023 when compared with the three…
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11 OctoberFeatures
How much is the ‘tourist tax’ harming retailers
The Centre for Economics and Business Research has calculated that the “tourist tax” is costing the UK £10.7bn in lost GDP and deterring two million tourists from visiting the country per year. The report from the Centre for Economics and Business Research (CEBR) claims that the additional revenue generated by…
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Sep- 2023 -21 SeptemberEconomy
Bank of England keeps interest rates unchanged at 5.25%
Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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13 SeptemberPeople Moves
UK GDP falls by ‘worse than expected’ 0.5% in July
The UK economy shrunk by a “worse than expected” 0.5% in July as poor weather and industrial strikes impacted production, according to the latest statistics from the Office for National Statistics (ONS). The ONS revealed that all of the main sectors fell in July 2023, with output in the services…
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