Britain’s high streets face another tough year as spending remains weak
1 year, 10 months ago

Britain’s high streets face another tough year as spending remains weak

The Independent  

Britain’s consumer economy is still awaiting the “latent spending power” built up during the pandemic. Panmure’s Simon French noted last month that while savings rates have reverted to pre-pandemic levels, the substantial stock of savings accrued during successive lockdowns remained “largely intact”. The CBI found retail sales volumes fell over the last month, and at their fastest rate since April last year. GfK’s monthly gauge of how people feel about their personal finances and the wider economy fell to minus 45 this month, a three-point decline when compared to December.

Britain  stock  economy  french  remains  theyre  streets  britains  high  month  survey  face  tough  spending  consumer  fell  weak  retailers

History of this topic

Festive gloom for High Street as sales slump
Trending News
3 days, 14 hours ago

Festive gloom for High Street as sales slump

Daily Mail  

Beleaguered retailers are suffering a 'gloomy festive period' according to figures that add to the broader picture of economic woe in the wake of the Budget. CBI principal economist Martin Sartorius said: 'Retailers have endured a gloomy festive period, with annual sales declining for a third consecutive month. Gloom: The CBI's retail survey found that sales this month were 'poor' …

Recession ‘more likely’ as key gauge misses expectations
1 year, 3 months ago

Recession ‘more likely’ as key gauge misses expectations

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A key gauge of the UK’s economic strength suggests the …

Britain is back in financial crisis territory – when good news is bad news
1 year, 6 months ago

Britain is back in financial crisis territory – when good news is bad news

The Telegraph  

In the long, slow recovery from the financial crisis, the world economy and markets entered a topsy-turvy phase. Bad news sent traders into overdrive, in anticipation of more easy money from central banks. Andrew Bailey, the Governor of the Bank, and his colleagues on the Monetary Policy Committee want to use more expensive money to squeeze demand in the economy …

Economy ‘loses momentum again’ as private sector growth slows despite retail boost
1 year, 6 months ago

Economy ‘loses momentum again’ as private sector growth slows despite retail boost

The Independent  

Britain’s economy “has lost momentum again” as growth in the private sector dropped to its slowest for three months, despite an unexpected boost in retail sales. Data from the Office for National Statistics showed that retail sales volumes rose 0.3 per cent in May, better than the 0.2 per cent drop that economists had forecast. But May’s overall 0.3 per …

‘Must stick to plan to bring down nightmare inflation,’ says UK finance minister Jeremy Hunt
1 year, 11 months ago

‘Must stick to plan to bring down nightmare inflation,’ says UK finance minister Jeremy Hunt

Firstpost  

Inflation in the United Kingdom eased slightly last month after hitting a 41-year high in October, providing some relief to the Bank of England. The pressure on households, however, remained intense as food and drink prices climbed at the fastest pace since 1977, according to government data London: British finance minister Jeremy Hunt on Wednesday indicated that the UK government …

Shopper footfall stalls amid record temperatures and cost-of-living pressure
2 years, 4 months ago

Shopper footfall stalls amid record temperatures and cost-of-living pressure

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Retailers will be listening closely to how the next Tory leader plans to help …

UK inflation hits 9.1%, the highest rate in the G7
2 years, 6 months ago

UK inflation hits 9.1%, the highest rate in the G7

CNN  

Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-of-living crunch. Historical records from the Office for National Statistics show May’s inflation was the highest since March 1982 — and worse is likely to come. “With the …

Consumer confidence is plunging – here’s why that matters
2 years, 7 months ago

Consumer confidence is plunging – here’s why that matters

The Independent  

Another day, another major warning sign for the UK economy. A closely watched index of how people are feeling about the prospects for their finances and the wider economy has dropped to -40 in May, from an already abysmal -38 last month. UK firms already invest less than their counterparts in other wealthy countries and there has been a serious …

UK economic growth held back by supply chain problems
3 years, 1 month ago

UK economic growth held back by supply chain problems

Associated Press  

LONDON — The British economy slowed down during the third quarter of the year as widespread supply chain problems hobbled the recovery from the coronavirus pandemic, official figures showed Thursday. Last week, the Bank of England said the economy would not gain back the output lost during the pandemic until the first part of next year after previously predicting a …

UK retail sales fall sharply despite easing COVID pandemic curbs
3 years, 4 months ago

UK retail sales fall sharply despite easing COVID pandemic curbs

India TV News  

The UK's retail sales volumes fell by 2.5 per cent in July from June despite the easing of coronavirus restrictions, but still 5.8 per cent higher than the pre-pandemic levels in February 2020, the Office for National Statistics said. Food store sales volumes dropped monthly by 1.5 per cent in July, following an increase in the previous month when sales …

UK economy grows 4.8% as hospitality bounces back from lockdown
3 years, 4 months ago

UK economy grows 4.8% as hospitality bounces back from lockdown

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chancellor Rishi Sunak said the latest figures showed the …

Shoppers are set to splurge their savings in summer spending spree
3 years, 7 months ago

Shoppers are set to splurge their savings in summer spending spree

Daily Mail  

Shoppers in Britain are set to spend their savings in a summer spree after consumer confidence in Britain saw its highest jump in at least a decade following the post-lockdown roadmap being revealed, economists said today. Deloitte's consumer tracker reported a record quarterly rise in confidence in the first three months of the year, up six percentage points to -11 …

Britain's economy springing back to life with ease in lockdown
3 years, 8 months ago

Britain's economy springing back to life with ease in lockdown

Daily Mail  

Britain's economy is springing back to life as the rollout of Covid vaccines and easing of lockdown restrictions boost business. Upbeat: In a boost for Chancellor Rishi Sunak, economists now believe Britain is heading for its strongest year of growth since 1988 The ONS said retail sales rose 5.4 per cent last month despite 'non-essential' stores remaining shut, amid strong …

UK economy shrank by less than expected in January
3 years, 9 months ago

UK economy shrank by less than expected in January

Al Jazeera  

UK GDP shrank by 2.9 percent in January from December, but trade dropped by the most on record as Brexit kicked in. Britain’s economy is likely to shrink by four percent in the first quarter of 2021, due mostly to the latest lockdown but also because of disruption caused by new, post-Brexit rules for trade with the European Union, the …

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7
4 years, 4 months ago

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7

LA Times  

Britain has suffered the deepest recession among the world’s top economies this year, shrinking by a fifth in the second quarter alone when much of the economy was mothballed as part of efforts to contain the COVID-19 pandemic. Canada and Japan, the remaining members of the Group of Seven leading industrial nations, have yet to publish their second-quarter numbers, but …

Discover Related