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UK Retail Economic Briefing Report summary

December 2021

Period covered: Period covered: December 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.

Economic activity

The UK economy slowed almost to a standstill in October, as supply chain issues and a sharp drop in restaurant trade weighed on growth. GDP is estimated to have grown by 00% in October, compared to 0.6% growth in September.

UK GDP is forecast to grow by 00% in 2022, according to independent Treasury forecasts.

Confidence

GfK’s Consumer Confidence score fell by one point to 00 in December.

The emergence of the Omicron variant impacted consumer confidence at the end of 2021, with consumers becoming less inclined to make major purchases as a result.

Business confidence was unchanged at 00% in December. But for the emergence of Omicron, sentiment would have risen.

Inflation

CPI inflation surged 00% YoY in November, up from 4.2% the previous month – the sharpest rise since September 2011.

Prices rose across the consumer basket with motor fuels, used cars, clothing, energy and food all supporting the surge in inflation.

Current estimates suggest that costs for a typical UK family will jump by £00 over 2022.

Anxiety about the rising cost of living remains uncomfortably high, with 00 of consumers concerned according to our latest consumer panel research.

Labour Market

The latest data shows that the labour market continues to…

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Economic recovery slows almost to a standstill

Source: ONS

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  • Summary and economic overview
  • GDP
  • Labour market statistics
  • Inflationary trends
  • Producer prices pressures
  • Consumer spending
  • Retail sales trends
  • Prices, costs and margins
  • House prices and mortgage approvals
  • Credit market statistics
  • Consumer Confidence
  • Wage Growth and more…