UK Retail Economic Briefing Report summary
March 2023
Period covered: Period covered: February 2023
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
UK quarterly GDP is estimated to have increased by 00% in Q4 2022(Oct to Dec).
In Q4, services output grew by 00%, production growth was 00, and construction grew by 00%.
Confidence
GfK’s Consumer Confidence Index increased two points in March to 00.
The Major Purchase Index increased four points to 00. This is nine points lower than the same month a year ago.
Expectations for the general economic situation over the coming 12 months are up by 3 points to 00. This is 00 points higher than the same month a year ago.
Inflation
Headline inflation unexpectedly rose to 00% in February, from 00% last month – the first rise in 00 months.
The rise was predominately driven by higher prices of alcohol in pubs, cafés and restaurants, while food and clothing inflation also edged higher.
Overall inflation within the restaurant and hotel category rose at its fastest rate in over 00 00, after discounting in January ended.
Credit and Housing Market
The latest data shows that the housing market continues to…
Take out a FREE 30 day membership trial to read the full report.
Inflation remains close to 40-year high
Source: ONS
