Headline annual gross domestic product (GDP) growth was 1.4% in 2018, the lowest it has been in six years. Meanwhile, the services sector had annual growth of 1.7%, the lowest since 2011 and the production sector had annual growth of 0.7%, the lowest since 2013. Construction annual growth was 0.6%, the lowest since 2012. Construction growth contracted in Quarter 4 2018, the first negative three-month growth since May 2018
UK gross domestic product grew by 0.2% in Quarter 4 2018
Rolling three-month growth slowed further to 0.2%, after growth of 0.3% in November 2018
The Consumer Prices Index (CPI) 12-month rate was 2.5% in July 2018, up from 2.4% in June 2018.
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in July 2018, unchanged from June 2018.
Rising prices for computer games and transport fares produced the largest upward contributions to change in the 12-month rate between June and July 2018, although computer game prices tend to be highly variable from month to month.
The upward effects were offset by falls in prices for clothing and footwear, and the removal of initial charges for investment in some unit trusts.
Prices for clothing and footwear fell by 0.4% between July 2017 and July 2018, the first time the 12-month rate has been negative since October 2016.
In August 2016, the quantity bought (volume) of retail sales is estimated to have increased by 6.2% compared with August 2015; all store types except textile, clothing and footwear, and household goods showed growth with the main contribution coming from food stores.
The quantity bought decreased by 0.2% compared with July 2016; the largest contribution to the decrease came from non-food stores which was offset by increases in non-store retailing, predominantly food stores and petrol stations.
The underlying pattern in the retail sector is still one of growth with the 3 month on 3 month movement in the quantity bought increasing by 1.6%.
The amount spent (value) in the retail industry increased by 4.1% compared with August 2015 and decreased by 0.5% compared with July 2016.
The amount spent online increased by 18.5% compared with August 2015 and increased by 0.4% compared with July 2016.
Non-seasonally adjusted average store prices (including petrol stations) fell by 1.9% in August 2016 compared with August 2015.
Federation of Small Businesses’ (FSB) data used in a BBC report shows the UK’s high streets have seen a dramatic number of women starting-up businesses than at any previous time
Half (49.5%) of small firms established in the past two years in retail, or hotels, catering and leisure are owned primarily by women
This is in stark contrast to high street businesses started more than 20 years ago. When the FSB last surveyed its members it found that only a quarter (24%) of these businesses were primarily female owned