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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Jan- 2022 -18 JanuaryClothing & Shoes
ASOS set to boost UK economy by £3.8bn
Asos’ UK GDP contribution will increase by £2bn to £3.8bn in the next three to four years, with plans to reach £7bn turnover which will reportedly “further boost” the company’s impact in the UK, according to its first Economic Impact report. According to the research, conducted by Oxford Economics, Asos’…
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14 JanuaryEconomy
UK economy surpassed pre-Covid levels in November
Gross domestic product (GDP) has surpassed its pre-pandemic level for the first time as it grew by 0.9% in November 2021, according to the latest Office for National Statistics (ONS) data. In the latest release, output in consumer-facing services grew by 0.8%, mainly because of a 1.4% increase in retail…
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Nov- 2021 -11 NovemberEconomy
UK recovery slows to 1.3% in Q3
UK economic growth slowed to 1.3% in Q3, down from 5.5% in the second quarter of the year. According to the latest figures from the Office of National Statistics (ONS), the level of quarterly GDP is now 2.1% below where it was before the coronavirus pandemic at Quarter 4 (Oct…
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Oct- 2021 -27 OctoberGovernment
Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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Sep- 2021 -17 SeptemberHigh Street
Retail sales fall 0.9% in August, ONS reveals
Retail sales volumes fell by 0.9% in August 2021, marking the second consecutive month-on-month decline, according to the latest Office of National Statistics (ONS) data. Despite the drop in sales, the results still remained 4.6% higher than their pre-pandemic February 2020 levels. Online sales rose to 27.7% in August from…
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10 SeptemberHigh Street
UK economic growth slows, ONS reveals
UK economic growth slowed down in July, growing by 0.1% compared with 1% in June 2021, according to the latest data by the Office of National Statistics (ONS). With the spread of the Delta variant and the “pingdemic” taking its hold in July, gross domestic product (GDP) still remains 2.1%…
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Aug- 2021 -12 AugustEconomy
UK economy surges 4.8% in June
The UK economy grew by 4.8% in June as Covid-19 restrictions surrounding retail and leisure were eased across the UK, according to figures published by the Office of National Statistics (ONS). Gross domestic product (GDP) is estimated to have grown for a fifth consecutive month in June 2021, by 1.0%,…
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Jul- 2021 -6 JulyFeatures
Could the UK-Australia trade deal be better than advertised?
Marmite for Vegemite, Penguins for TimTams. These are just two of the swaps that Boris Johnson alluded to as he addressed the nation regarding the completion of an “historic” trade deal between the UK and Australia. While these may not seem like major products to drive economic recovery, and Australia…
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Jun- 2021 -30 JuneEconomy
GDP shrinks 1.6% in Q1
The UK’s quarterly gross domestic product (GDP) fell an estimated 1.6% in Q1 2021, a larger margin than the previously expected decline of 1.5%. The Office for National Statistics (ONS) revealed that GDP is now 8.8% below the final pre-pandemic quarter of October to December 2019. Moreover, compared with the…
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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…
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