UK Executive Report summary
May 2021
Period covered: Period covered: April 2021
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 rose 00% in March, the fastest monthly growth rate since last August, boosted by schools reopening and a pick-up in retail sales.
GDP is forecast to grow by 00% in 2021, according to independent forecasts from the Treasury.
GfK’s Consumer Confidence measure bounced back to pre-lockdown levels in May, rising by six points to -00.
The re-opening of leisure and hospitality venues in May combined with the continuing success of the vaccination programme gave more cause for optimism amongst consumers.
Job vacancies in the UK have hit their highest level since the start of the pandemic, with an increase in the quarterly employment rate suggesting “some early signs of recovery” according to the ONS.
CPI inflation accelerated in April, rising by 1.5% year-on-year, up from 0.7% in March. This was in line with forecasts from economists and the Bank of England and was at the highest level since March 2020.
Retail sales rose by 00% in April, year-on-year, according to the Retail Economics Retail Sales Index
Against the backdrop of significantly depressed sales in April 2020, as shops reopened on 12 April 2021 following the end of a third national lockdown, annual sales growth skyrocketed for non-food sectors.
The RICS Residential Market Survey for April shows demand outstripping supply, with a lack of new instructions driving prices higher across all parts of the UK.
British house prices jumped by 10.9% annually in May, the most in nearly seven years, according to Nationwide.
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Source: Retail Economics
