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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Jun- 2020 -30 June
Revised ONS data reveals greater GDP drop in Q1 2020
The UK’s gross domestic product (GDP) in volume terms fell by 2.2% in Q1 2020, which has been revised downwards…
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26 June
Just 13.8% of retail rent collected on June quarter day
Landlords received just 13.8% of rent owed by the UK retailers on this quarter’s rent date, compared with the 19.8%…
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19 June
UK consumer confidence rises in June
GfK’s long-running Consumer Confidence Index increased by six points to -30 in June. The measure for the general economic situation…
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18 June
UK inflation hits four-year low
The UK’s inflation rate dropped to 0.5% in May, down from 0.8% in April, according to new figures from the…
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12 June
UK GDP slumps over 20% in April as full impact of Covid-19 is felt
GDP slumped by 20.4% in April 2020, following a fall of 5.8% in March, according to the latest figures from…
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11 June
Majority of SMEs believe UK is headed for deep recession post-pandemic
Almost seven in 10 (69%) small business owners believe the UK is heading for a deep recession following the coronavirus…
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10 June
UK GDP expected to decline 7.2% in 2020 amid ongoing pandemic
The continuing impact of the Covid-19 virus is expected to see the UK economy contract by 7.2% in 2020, with…
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9 June
Consumer spending drops 26.7% year-on-year in May
Consumer spending contracted 26.7% year-on-year in May. This is according to new data from Barclaycard, which revealed that spending on…
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May- 2020 -22 May
Consumer confidence drops further in May
GfK’s long-running Consumer Confidence Index has decreased by one point to -34 for May, as the Covid-19 pandemic continues. The…
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13 May
UK economy shrinks by 2% as pandemic takes its toll
The UK’s economy shrank by 2% in the three months to 31 March 2020, as a result of the Covid-19…
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