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UK Executive Report summary

April 2022

Period covered: Period covered: March 2022

Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30 day membership trial now.

GDP

  • UK monthly GDP rose by a subdued 00% in February, following 0.8% growth in January. Monthly economic activity is now 00% above its pre-pandemic level.

Confidence

  • GfK’s Consumer Confidence score fell to a near all-time low in April, dropping 00 points to 00. Historically, a consumer confidence score of -30 or below precedes a recession.

Inflation

  • CPI inflation jumped 00% YoY in March, up from 00% the previous month – at least a 30 year high.

Labour Market

  • The latest unemployment estimates show a 0.2 percentage point drop on the previous quarter to 00% in the three months to February. Regular pay growth (exc. Bonuses) rose 00% over the same period but fell 00% in real terms (adjusted for inflation).

Retail sales

  • Retail sales rose 00% YoY in March, according to the Retail Economics Retail Sales Index (value, non-seasonally adjusted). The proportion of retail sales made online dropped to 00% in March, the lowest level since March 2020.

Credit and housing market

  • March 2022 marked two years since the UK first entered lockdown. The average house price has risen by 00% over that period, or £00 in value terms.

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Inflation outpacing earnings

Source: ONS, Retail Economics

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