Growth Q2

Second Estimate of GDP, Quarter 2 (Apr to June) 2015: ONS

  • UK GDP in volume terms was estimated to have increased by 0.7% between Quarter 1 (Jan to Mar) 2015 and Quarter 2 (Apr to June) 2015
  • GDP was estimated to have increased by 3.0% in 2014, compared with 2013
  • Between Quarter 2 2014 and Quarter 2 2015, GDP in volume terms increased by 2.6%
  • GDP in current prices was estimated to have increased by 0.7% between Quarter 1 2015 and Quarter 2 2015
  • GDP per head in volume terms was estimated to have increased by 0.5% between Quarter 1 2015 and Quarter 2 2015
  • Between 2013 and 2014, GDP per head increased by 2.3%
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Pop-up retail now worth £2.3bn

Britain’s Pop-Up Retail Economy: CEBR

Pop-ups now account for 0.76% of total UK retail turnover, up from 0.6 % the year before, an increase of more than £200m in sales

Britain is now host to more than an estimated 10,000 pop-ups

The sector employs more than 26,000 people

 

Inflation rate up to 0.1%

Consumer Price Inflation, July 2015: ONS

  • The Consumer Prices Index (CPI) grew by 0.1% in the year to July 2015, up from 0.0% in the year to June 2015.
  • A smaller fall in clothing prices on the month compared with a year ago was the main contributor to the rise in inflation.
  • Falling prices for food and non-alcoholic beverages partially offset the rise.

Unemployment rises

UK Labour Market, August 2015: ONS

Main points for April to June 2015

  • There were 1.85 million unemployed people (people not in work but seeking and available to work), 25,000 more than for January to March 2015 but 221,000 fewer than for a year earlier.
  • There were 1.01 million unemployed men, 130,000 fewer than for a year earlier. There were 838,000 unemployed women, 92,000 fewer than for a year earlier.
  • The unemployment rate was 5.6%, little changed compared with January to March 2015 but lower than for a year earlier (6.3%). The unemployment rate is the proportion of the labour force (those in work plus those unemployed) who were unemployed.
  • There were 8.99 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), little changed compared with January to March 2015 and with a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 22.1%, little changed compared with January to March 2015 and with a year earlier.
  • There were 31.03 million people in work, 63,000 fewer than for January to March 2015 but 354,000 more than for a year earlier.
  • There were 22.76 million people working full-time, 352,000 more than for a year earlier. There were 8.27 million people working part-time, little changed compared with a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 73.4%, little changed compared with January to March 2015 but higher than for a year earlier (72.8%).