UK Retail Economic Briefing Report summary
April 2023
Period covered: Period covered: March 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
Quarterly GDP is estimated to have increased by 00% in Q1 2023 (Jan to Mar), following 00% growth in Q4 2022.
Services output rose by 00% in Q1 2023, following a 00% increase in Q4 2022.
Confidence
GfK’s Consumer Confidence Index increased six points in April to 00
The Major Purchase Index increased five points to 00. This is 00 points higher than the same month a year ago.
Expectations for the general economic situation over the coming 12 months are up by six points to 00. Inflation
Headline inflation eased to 00% in March, from 00% last month, but above the 9.8% forecast by economists. On a MoM basis, inflation rose 00%.
Core inflation (which strips out volatile prices) was broadly unchanged, beating expectations of an easing to 00%.
Notably, the highly-watched services sector inflation rate was broadly unchanged and in line with recent Bank of England forecasts.
Credit and Housing Market
The latest data shows that the housing market continues to…
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Inflation remains close to 40-year high
Source: ONS
