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UK Executive Report summary

March 2023

Period covered: Period covered: February 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.

GDP

  • UK GDP is estimated to have increased by 00% in Q4 2022(Oct to Dec). In Q4, services output grew by 00%, production growth was 00, and construction grew by 00%.

Confidence

  • GfK’s Consumer Confidence Index increased two points in March to 00.

Inflation

  • Headline inflation unexpectedly rose to 00% in February, from 00% last month – the first rise in four months and above the 00% forecast by economists. On a MoM basis, inflation rose 00%.

Labour Market

  • The unemployment rate for November 2022 to January 2023 is largely unchanged compared with the previous quarter at 00%.

Retail sales

  • Retail sales rose by 00% YoY in February according to the Retail Economics Retail Sales Index, against a 00% rise in the previous year.

Credit and housing market

  • Annual house price growth remained steady at 00% for the 00 consecutive month, with monthly growth increasing by 00% after a sharp decline in Q4 2022 (Halifax).

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Inflation remains close to 40-year high

Source: GfK

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