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- 2022 -12 SeptemberEconomy
Economic recovery slows in July
The UK economy’s growth slowed in July to 0.2% according to the latest figures from the Office for National Statistics (ONS). The result is below previous forecasts of 0.4% growth for the month as worker shortages and soaring costs weighed on activity. It found that services grew by 0.4% in…
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12 SeptemberEconomy
BoE delays interest rates decision
The Bank of England (BoE) has delayed its interest rates decision for one week, following the death of Queen Elizabeth II. The meeting of the Monetary Policy Committee, which was expected to further raise interest rates, is now expected to be held at 12pm on 22 September, in light of…
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9 SeptemberEconomy
UK workers face £2,000 hit to real wages
UK workers are facing a £2,000 hit to their real wages by the end of 2022 as the UK economy confronts a “highly volatile and uncertain” inflationary outlook, according to the latest PwC Economic Outlook. PwC expects that the UK will likely report growth of between 3.6% in the “mild…
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Aug- 2022 -12 AugustEconomy
UK economy contracts 0.1% in second quarter
The UK economy contracted by 0.1% in the second quarter of the year (Apr to June) 2022, according to the latest estimate from the Office for National Statistics (ONS). On a monthly basis GDP is estimated to have fallen by 0.6% in June 2022, following an increase of 0.4% in…
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4 AugustEconomy
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since 1995. In its latest announcement, the BOE also projected that the UK would fall into a recession in the fourth quarter of the year, which is expected to last for…
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1 AugustFeatures
Recession and retailers: a ‘cleansing effect’?
“Incomes are being squeezed, consumption is under pressure, interest rates are rising, and there’s a lot of uncertainty. These are classic ingredients for recession,” says Ian Stewart, Deloitte’s chief economist. According to Deloitte’s UK CFO Survey Q2 2022, finance leaders have assigned a 63% probability of experiencing a recession within…
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Jun- 2022 -27 JuneEconomy
Cost of living crisis could lead to ‘mild recession’, report warns
There is a rising risk of the UK economy falling into a “mild recession” due to the cost of living crisis, according to the latest economic report from KPMG. In its quarterly report, the ‘Big Four’ accounting firm said that the UK economy faces a number of global and domestic…
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16 JuneEconomy
BoE raises interest rates to 1.25%
The Bank of England’s (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its fifth rise in a row as it bids to offset the impact of rising inflation. The Monetary Policy Committee voted by a majority of 6-3 to increase the rate to…
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May- 2022 -12 MayEconomy
UK economy shrinks in March
The UK economy shrunk by 0.1% in March as consumers started to feel the bite of rising energy prices and the cost of living. The latest figures also come after a period of no growth in February. During the period, services fell by 0.2% on the month and was the…
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5 MayNews
BoE raises interest rates to highest level since 2009
The bank of England (BoE) has raised interest rates to its highest level since 2009 – marking the fourth time it has taken action since December. The new rate of 1%, up from 0.75%, is the BoE’s latest attempt to curb the rampant rise in inflation – also at its…
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