Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Sep- 2023 -11 September
Retail leaders call for business rates freeze
Leaders of major retail businesses have written to chancellor Jeremy Hunt calling for a freeze in business rates in the…
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Aug- 2023 -18 August
Poor weather drags down retail sales 1.2% in July
Retail sales volumes are estimated to have fallen by 1.2% in July 2023 following a rise of 0.6% in June…
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17 August
Over 550,000 SMEs struggle to pay tax bills, study finds
More than 550,000 small and medium-sized businesses are currently struggling to pay tax bills, according to new research from Premium…
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16 August
Inflation falls for second consecutive month to 6.8%
Inflation fell for the second consecutive month in July to 6.8%, down from 7.9% in June, as the energy price…
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11 August
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…
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4 August
Retail sector accounted for 16% of UK administrations in 2023, study finds
The retail sector accounted for 16% of administrations in the first six months of 2023 – the highest industry in…
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3 August
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to…
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1 August
Falling inflation may be halted as Russia pulls out of grain deal, BRC warns
The British Retail Consortium (BRC) has warned that falling inflation is likely to slow after Russia withdrew from the Black…
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Jul- 2023 -21 July
Hot weather boosts June retail sales
June retail sales beat forecasts in June, rising 0.7% compared with predictions of 0.2%, as hot weather helped encourage shoppers.…
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21 July
Consumer confidence falls in July
Consumer confidence index dropped six points in July to -30 as “reality bites” resilient consumers amid rising inflation and interest…
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