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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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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Aug- 2023 -11 AugustEconomy
UK economy grows by 0.2% in Q2
The UK economy has grown faster than expected in the three months to June, new figures from the Office for National Statistics (ONS) show. According to the ONS, GDP rose by 0.2% in the second quarter of the year, up from a growth of 0.1% in the first quarter. In…
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Jul- 2023 -13 JulyEconomy
UK economy shrinks in May
The UK economy contracted by 0.1% in May as output was negatively affected by the King’s coronation, according to the latest statistics from the Office for National Statistics (ONS). On a three month basis GDP has shown no growth, however, monthly GDP is now estimated to be 0.2% above its…
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Jun- 2023 -12 JuneNews
UK economy set to grow amid increased investment, says CBI
The economy looks to have fared better than expected in the first half of 2023, and is set to steer clear of a recession, according to the CBI’s latest Economic Forecast. The CBI has forecasted 0.4% growth in GDP over 2023, picking up to 1.8% in 2024, upgraded from -0.4%…
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May- 2023 -24 MayFeatures
Will businesses survive after entering into administration?
Can you tell me about yourself? I am a chartered accountant and I lead the expanding retail and consumer goods sector, responsible for defining and implementing the Mazars strategy for our consumer clients. I’m also a consulting partner that brings insight and value to clients by directing our full suite…
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12 MayEconomy
UK economy shrinks 0.3% in March
Monthly real gross domestic product (GDP) is estimated to have fallen by 0.3% in March 2023, after showing no growth in February 2023, according to the latest figures from the Office for National Statistics (ONS). Looking at the broader picture, the ONS said GDP grew by 0.1% in the three…
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11 MayEconomy
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.25% in a bid to meet the 2% inflation target. The committee said it…
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Apr- 2023 -21 AprilEconomy
Poor weather sees retail sales fall 0.9% in March
Retail sales in the UK fell 0.9% in March according to latest figures from the Office for National Statistics (ONS). Some of this fall can be attributed to the poor weather in March following a 1.1% rise in February. Furthermore, non-food stores sales volumes fell by 1.3% in March 2023,…
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13 AprilEconomy
UK economy flatlines in Feb
Real gross domestic product (GDP) is estimated to have shown no growth in February 2023, where falls in services and production were offset by growth in construction, according to the latest figures from the Office for National Statistics (ONS). The services sector fell by 0.1% in February 2023, after growing…
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