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UK Executive Report summary

July 2022

Period covered: Period covered: June 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 GDP rose by 00% MoM in May, beating expectations of 0.0% growth. All three main sectors returned to growth in May after declining in the previous month (Services: 00%, Production: 00%, Construction: 00%).

Confidence

  • GfK’s Consumer Confidence Index remained at a record low in July, staying flat at 00.

Inflation

  • The headline inflation rate edged higher in May to 00% YoY, remaining at a 40-year high - in line with economists’ forecasts.

Labour Market

  • Average regular pay growth (exc. bonuses) rose by 00% in the three compared to a year earlier. In real terms (adjusted for inflation), regular pay fell by a record 00% over the period.

Retail sales

  • Retail sales rose by a modest 00% YoY in June, against 00% growth a year earlier, according to the Retail Economics Retail Sales Index (value, non-seasonally adjusted, exc. Fuel)

Credit and housing market

  • New credit card lending to consumers totalled 00 in June while other forms of consumer credit (such as car dealership finance and personal loans) rose by £0.8bn. The annual growth rate of credit card borrowing was 00% - the highest rate since November 2005

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Inflation rate and average earnings by household group

Source: Retail Economics Cost of Living Tracker

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