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UK Executive Report summary

November 2021

Period covered: Period covered: October 2021

1 minute read

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

  • GDP rose by an estimated 0.00% in Q3 2021. This represents a marked slowdown on the 5.5% increase seen in Q2. UK GDP is forecast to grow by 0.00% in 2021 and 0.00% in 2022.

Confidence

  • GfK’s Consumer Confidence score rose by three points to 0.00 in November – recovering some lost ground after falling sharply in October.

Inflation

  • CPI inflation jumped in October to 0.00% YoY, from 3.1% the previous month. This was above economists’ expectations and raises likelihood of an interest rate rise before the end of the year.

Labour Market

  • Unemployment dropped to 0.00% in the three months to the end of September, despite the withdrawal of the government’s job-protecting furlough scheme.

Retail sales

  • Retail sales rose by 0.00% YoY in October, according to the Retail Economics Retail Sales Index. Consumers face a more challenging macro environment, with spending in the golden quarter being disrupted by product shortages and concerns around the rising cost of living.

Credit and housing market

  • The housing market boom is tailing off, with sales cooling and buyer demand stabilising after a surge in activity over the past 18 months. The number of mortgage approvals slowed in October to 0.00 the lowest level since June 2020.

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Inflation rising sharply

Source: ONS

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