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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Aug- 2023 -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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19 July
Profit warnings from FTSE retailers fall in H1
FTSE retailers have issued only 10 profit warnings for the first half of 2023, marking a fall from the 16…
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19 July
Inflation falls faster than expected in June
The rate of price rises has fallen to 7.9% in June, down from 8.7% in May, according to the latest…
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13 July
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…
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12 July
Cost of living crisis to wipe £65bn from household finances
Inflation and the cost of living crisis are set to wipe £65bn from household finances across the UK, with real…
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11 July
UK retail sales rise 5% in June
Total retail sales in the UK were up 4.9% in June, compared with a 1% decline in June 2022, according…
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