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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May- 2023 -24 May
Inflation falls to 8.7% in April
Inflation has fallen to 8.7% in April, marking the first time it has been in single digits since last summer,…
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16 May
Unemployment rises to 3.9%
The unemployment rate for January to March 2023 increased by 0.1 percentage points during the first quarter to 3.9% amid…
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12 May
UK economy shrinks 0.3% in March
Monthly real gross domestic product (GDP) is estimated to have fallen by 0.3% in March 2023, after showing no growth…
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11 May
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The…
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Apr- 2023 -24 April
Retail profit warnings fall to lowest level since 2020
UK-listed retailers issued five profit warnings in Q1 2023, marking a decrease from the nine issued in both Q4 2022…
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21 April
Poor weather sees retail sales fall 0.9% in March
Retail sales in the UK fell 0.9% in March according to latest figures from the Office for National Statistics (ONS).…
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19 April
Inflation remains above 10% in March
Despite easing slightly, inflation remained above 10% in March thanks to food and drink costs reaching a 45-year high, according…
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13 April
UK economy flatlines in Feb
Real gross domestic product (GDP) is estimated to have shown no growth in February 2023, where falls in services and…
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Mar- 2023 -31 March
UK economy avoids recession amid 0.1% growth
The UK economy narrowly avoided a recession during the fourth quarter (Oct-Dec) as UK GDP increased 0.1%, revised up from…
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28 March
Shop price inflation grows to 8.9% in March
The British Retail Consortium found that for the first seven days of March annual shop price inflation increased to 8.9%…
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