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UK Executive Report summary

August 2023

Period covered: July 2023

3 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

  • Quarterly GDP is estimated to have increased by xx% in Q1 2023 (Jan to Mar), following xx% growth in Q4 2022.

Confidence

  • GfK’s Consumer Confidence Index increased three points in May to xx

Inflation

  • Headline inflation eased to xx% in April, from xx% last month - the lowest level since March 2022. This was above the 8.2% forecast by economists and Bank of England’s estimate of an 8.4% rise. On a MoM basis, inflation rose 1.2%.

Labour Market

  • The unemployment rate for January to March 2023 is estimated at 3.9%, 0.1pp higher than the previous three-month period and xx below pre-pandemic levels.

Retail sales

  • Retail sales rose by xx% YoY in April according to the Retail Economics Retail Sales Index, against a weak xx% rise in the previous year.

Credit and housing market

  • Mortgage approvals for house purchases fell back to xxxx in April, from xxxx in March.

 

 

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Inflation falls back but remains above expectations

Source: ONS

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