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- 2021 -22 March
Sunak delays debate for online sales tax until autumn
Chancellor Rishi Sunak will reportedly wait until autumn before deciding whether or not to impose a UK online sales tax…
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19 March
UK consumer confidence rises in March
Consumer confidence in the UK is on the rise, according to GfK’s monthly Consumer Confidence Index, as consumer confidence has…
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12 March
UK GDP shrinks 2.9% amid January lockdown
Monthly GDP fell by 2.9% in January as a national lockdown proved to impact economic activity, new data from the…
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3 March
Shop prices continue to fall in February
Shop prices continued to fall in February, down 2.4%, marking the lowest deflation rate since May 2020. According to the…
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Feb- 2021 -12 February
UK suffers record 9.9% GDP slump
GDP declined by 9.9% in 2020, a figure which is more than double of what was recorded in 2009 after…
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11 February
Non-food retailers see £22bn sales hit due to Covid
The British Retail Consortium (BRC) is reporting that the country’s three national lockdowns have cost ‘non-food’ stores – mainly ‘non-essential’…
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8 February
Sunak mulls ‘Amazon Tax’ to help with UK debts
Chancellor Rishi Sunak is allegedly considering a double tax raid on online retailers such as Amazon who profited during the…
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3 February
13,000 Scottish retail jobs were lost before Covid-19, SRC reveals
13,000 Scottish retail jobs were lost between 2016-2018, a new paper by the Scottish Retail Consortium (SRC) reveals. The report…
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Jan- 2021 -26 January
Unemployment rises 5% to 1.7m
The UK unemployment rate rose by 5% in the three months to November with over 1.7 million people now out…
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15 January
UK GDP shrinks by 2.6%
GDP declined by 2.6% in November 2020 as government restrictions reduced economic activity, the latest ONS figures reveal. Figures released…
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