UK economy grows 0.8 per cent in May July 9, 2021 The UK economy expanded in May, but at a much slower pace than in recent months as growth stalled in retail, manufacturing and construction, new figures released today show. GDP rose 0.8 per cent in May 2021, the fourth consecutive month of growth, according to the ONS. The expansion was driven by a resurgence in [...]
UK advertising sector on track for strongest global recovery April 29, 2021 The UK advertising sector is on track to achieve the strongest recovery of any major global market this year as the vaccine rollout fuels improved confidence among brands. Ad spend is forecast to grow 15.2 per cent this year to £27bn, clawing back the £1.8bn decline suffered during the pandemic in 2020. Further improvement is [...]
Business confidence soars to seven-year high amid vaccine rollout success June 7, 2021 Business confidence in May hit its highest point since June 2014, driven by the rollout of the vaccine programme and further easing of lockdown restrictions. The BDO Optimism Index, which quizzes businesses to calculate optimism, jumped from 99.85 in April to 109.71 the following month, above the long-term average of 100. May’s optimism marked the [...]
Pandemic legacy: This is just the beginning for online shopping as sector sees five years of growth in 12 months April 27, 2021 The vast majority of UK consumers who bought online for the first time during the pandemic will continue to buy online, despite the High Street having reopened earlier this month. The pandemic is the main reason for this shift, with 56 per cent of clothes shoppers telling digital marketing agency MullenLowe Profero they bought more [...]
The City View: Boris on his last legs? May 31, 2022 On today’s final episode of The City View, Andy Silvester talks to City A.M.’s Opinion and Features Editor Sascha O’Sullivan. They ask whether Boris Johnson is harming the Tory party’s chances of reelection, and if Starmer is the right man for the job as Labour leader. And in the business news: TUI has cancelled nearly [...]
Topps Tiles boosted by Brits craving home improvement after lockdown June 30, 2021 Topps Tiles reported a surge in sales in the first three months since stores have been allowed to reopen, after lockdown restrictions at the beginning of the year heavily impacted the group’s performance. On a two year basis compared with 2019 before the pandemic, retail like-for-like sales increased by 12.9 per cent over the third [...]
Deliveroo shares slip despite revenue soaring and lockdown orders doubling August 11, 2021 Lockdown favourite Deliveroo revenue jumped 82 per cent to £922m in the first half of the year, results out this morning showed. The number of orders doubled to shy of 150m in the first half of 2021 compared with 75m during the same period last year when the first national lockdown was introduced. Deliveroo said [...]
Consumer confidence edges up in September September 27, 2019 Consumer confidence grew slightly this month but remained negative overall as uncertainty continued in the run up to the 31 October Brexit deadline date. Despite the two point increase, consumer confidence was still minus 12 points in September compared to a score of minus nine in the same month last year. Read more: UK consumer [...]
The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
Worker shortages bite as UK economic recovery stalls in July July 23, 2021 Shortages of workers and raw materials triggered by the “pingdemic” and supply chain constraints is threatening to stall the UK’s economic rebound from the Covid pandemic, show new figures published today. IHS Markit / CIPS’ latest flash UK composite PMI fell to 57.7 in July, the lowest reading since March. The reading dropped markedly over [...]