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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.
Gross Domestic Product
UK quarterly GDP is estimated to have increased by xx% in Q1 2023 (Jan to Mar).
In Q1, services output grew by xx%, production growth grew by Q1, and construction grew by xx%.
Total Consumer Spending
Consumer spending growth was xxxx QoQ in Q1 2023.
Half of the categories recorded a QoQ rise in spending in the first quarter of 2023 with Communication (xx%) and Clothing and Footwear (xx%) the strongest performers.
Conversely, spending on Alcoholic Beverages (xx%), and Health (xx%) experienced the deepest contractions QoQ.
Food and Non-Alcoholic Beverages
Consumer expenditure on food and non-alcoholic beverages fell by xx% on the previous quarter, totalling £xxxx in Q1 2023. Spending also declined xx% compared to the same quarter a year ago.
Alcoholic Beverages and Tobacco
Consumer spending on Alcoholic Beverages & Tobacco totalled £xxxx in Q1 2023, a xx% decline on the previous quarter.
The decline was driven by the Alcoholic Beverages component which fell xx% QoQ and xx% YoY.
Clothing and Footwear
Consumer expenditure on Clothing & Footwear grew by xx% in Q1 2023 with spending totalling £xxxx. However, spending decreased by xx% YoY.
Quarterly growth was driven by the Clothing category with spending up xx% compared with a xx% increase for Footwear.
Housing, Water, Electricity, Gas and other fuels
Total spending on Housing, Water, Electricity, Gas & other fuels rose by….
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Consumer spending remains subdued
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Retail Economics publishes quarterly UK Consumer reports which draw upon a range of data sources to give you cutting edge insights that you can implement within your business.
Consumer spending accounts for two thirds of the economy of which one third passes through the retail sector. Analysing the underlying consumer market trends is vital in forming a view of the strength of the retail sector. This in-depth report is designed to keep you abreast of the latest consumer trends, drawing upon a range of economic sources to provide you with a comprehensive overview of the fundamental drivers.
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