Office for National Statistics
This coverage explores insights from the UK Office for National Statistics (ONS) and their relevance to the retail sector, focusing on consumer spending data, labour market trends, price indices, and economic indicators. Reporting highlights how ONS releases inform retail strategy, performance analysis, and market forecasting — providing essential context for executives, analysts, and decision-makers in retail operations and planning.
-
Jun- 2024 -21 JuneNews
Today’s news in brief-21/6/24
UK retail sales saw a notable increase of 2.9% in May 2024, reversing a 1.8% decline in April. According to the Office for National Statistics, sales volumes rose across various sectors, with clothing retailers and furniture stores rebounding after poor weather in April. Over the three months to May 2024,…
Read More » -
21 JuneEconomy
BoE decision a ‘blow for Gen Z spending’, says RSM UK
The economic impact of high interest rates is set to hit Gen Z spending for the next 12 months, “prolonging the challenge for retailers and hospitality businesses as discretionary spend gets squeezed”, according to accountancy firm RSM. A survey of 2,000 consumers conducted on behalf of RSM UK shows Gen…
Read More » -
21 JuneEconomy
UK retail sales jump 2.9% in May
UK retail sales volumes rose by 2.9% in May 2024, following a fall of 1.8% in April 2024, according to the Office for National Statistics (ONS). Sales volumes rose across most sectors, with clothing retailers and furniture stores rebounding following poor weather in April. More broadly, sales volumes rose by…
Read More » -
20 JuneEconomy
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first time…
Read More » -
19 JuneNews
Today’s news in brief-19/6/24
UK inflation has hit its target for the first time in almost three years, with consumer price inflation easing to 2% in May, down from 2.3% in April. The Bank of England last reached this target in July 2021. The Office for National Statistics attributes the decline primarily to falling…
Read More » -
19 JuneEconomy
Inflation hits 2% target for first time in three years
UK inflation has hit its target for the first time in almost three years, as consumer price inflation eased to 2% in the year to May, down from a rise of 2.3% the prior month. The Bank of England last hit the 2% target in July 2021. According to the Office…
Read More » -
17 JuneNews
Today’s news in brief-17/6/24
Superdry’s shareholders have approved a restructuring plan to rescue the company from financial difficulties. This plan, following the approval of creditors, includes a £10m equity raise and delisting from the stock market. Founder Julian Dunkerton will underwrite the equity raise, which the company believes will provide sufficient liquidity for its…
Read More » -
17 JuneEconomy
Peak international spending returns to pre-pandemic levels, ONS finds
Spending by international visitors in August, the traditional UK high season, has largely recovered since the Covid-19 pandemic, according to the latest figures from the Office for National Statistics (ONS) and Visa. The ONS found that places in the UK with the highest concentration of seasonal spend by international tourists…
Read More » -
12 JuneNews
Today’s news in brief-12/6/24
The UK economy stalled in April 2024, showing no growth after a 0.4% increase in March, as wet weather significantly dampened consumer spending, according to the Office for National Statistics. Services output did rise by 0.2% for the fourth consecutive month and grew by 0.9% over the three months to…
Read More » -
12 JuneEconomy
Economy stalls in April due to wet weather
The UK economy stalled in April showing no growth as wet weather dampened consumer spending, according to the latest figures from the Office for National Statistics. Monthly real gross domestic product (GDP) is estimated to have shown no growth in April 2024, following growth of 0.4% in March 2024. It…
Read More »
