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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Mar- 2022 -31 March
UK GDP rebounds 1.3% in Q4 FY21
The UK’ gross domestic product (GDP) is estimated to have increased by 1.3% in the fourth quarter (Q4) of 2021…
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25 March
Retail sales volumes fall 0.3% in February, ONS says
Retail sales volumes fell by 0.3% in February 2022 following a rise of 1.9% in January 2022, according to the…
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24 March
Retail industry responds to ‘underwhelming’ Spring Statement
Both Bira and CBI have expressed disappointment in the chancellor’s Spring Statement, with Bira having declared it is “underwhelmed with…
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23 March
Spring Statement: Chancellor raises NI threshold to £12,570
The chancellor has outlined a series of measures to help combat the rising cost of living in his latest spring…
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17 March
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate…
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17 March
Retail insolvencies surge 21% amid supply chain issues
Data recently released by the Insolvency Service has shown that insolvencies amongst retailers businesses have surged in the past year…
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8 March
Retail sales show continued growth in February
Retail sales increased by 6.7% in February, against an increase of 1.0% in February 2021, a new report from BRC…
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8 March
Consumer spending surges 13.7% in February
Consumer card spending grew year-on-year by 13.7% in February, the highest growth since November 2021, as the economy reopened following…
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7 March
Retailers record 12th month of consecutive sales growth
The retail sector has recorded its 12th consecutive month of positive trading with total like-for-like sales, combined in-store and online,…
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3 March
Footfall strengthens amid largest monthly rise since June
With a gap of -20.7% from the 2019 level, footfall in February strengthened marginally from January when it was -20.8%…
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