This tool presents data from our most recent releases in the main areas that contribute to economic activity. For the latest data and analysis on the UK economy, business and jobs following Brexit and during the coronavirus (COVID-19) pandemic, visit our roundup, UK economy latest. ! The commentary presented is not a forecast or prediction. Embed code Embed this interactive
Related
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Coronavirus (COVID-19) latest insights
Article | Released on 30 September 2022
A live roundup of the latest data and trends about the coronavirus (COVID-19) pandemic from the ONS and other sources.
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Labour market overview, UK
Statistical bulletin | Released on 13 September 2022
Estimates of employment, unemployment, economic inactivity and other employment-related statistics for the UK.
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Retail sales, Great Britain
Statistical bulletin | Released on 16 September 2022
A first estimate of retail sales in volume and value terms, seasonally and non-seasonally adjusted.
- UK trade
Statistical bulletin | Released on 12 September 2022
Total value of UK exports and imports of goods and services in current prices, chained volume measures and implied deflators.
- Consumer price inflation, UK
Statistical bulletin | Released on 14 September 2022
Price indices, percentage changes, and weights for the different measures of consumer price inflation.
- Producer price inflation, UK
Statistical bulletin | Released on 14 September 2022
Changes in the prices of goods bought and sold by UK manufacturers, including price indices of materials and fuels purchased (input prices) and factory gate prices (output prices).
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GDP monthly estimate, UK
Statistical bulletin | Released on 12 September 2022
Gross domestic product (GDP) measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy.
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Index of Services, UK
Statistical bulletin | Released on 12 September 2022
Movements in the volume of output for the UK services industries. Figures are seasonally adjusted.
- Index of Production,
UK
Statistical bulletin | Released on 12 September 2022
Movements in the volume of production for the UK production industries: manufacturing, mining and quarrying, energy supply, and water and waste management.
This page provides commentary and charts on the latest changes in the UK economy, using novel and rapid data sources as well as official statistics. We explain the reasons behind each change as much as possible, although it can be difficult to separate the impacts of different things such as Brexit and COVID-19. For an overview of our main economic indicators,
visit our dashboard. This page was last updated at 09:30 on 30 September 2022. Because of methodological changes, households appear to have been saving more during the coronavirus (COVID 19)
lockdowns than originally first thought, while real incomes have been decreasing over recent quarters. Since Quarter 2 (Apr to June) 2020, the household saving ratio has seen a shift upwards, suggesting that households were saving more of their income than we previously thought. The saving ratio peaked at 26.8% in Quarter 2 2020, meaning that more than a quarter of total household income was saved as coronavirus pandemic lockdowns restricted opportunities to spend. These
calculations were revealed following an update of data sources used to calculate the household saving ratio in the UK. The ratio has been revised by an average of negative 0.2 percentage points annually, between 1997 and 2019. Using our new data, Quarter 2 (Apr to June) 2022 is now the fourth consecutive quarter of real negative growth in disposable income. Driving the rise in household expenditure this quarter were increases in the cost of electricity and gas and price increases at
restaurants and cafes. Our latest estimates now show that household saving has still not dropped to the level seen in Quarter 4 (Oct to Dec) 2019, the last full quarter not affected by coronavirus restrictions. Image
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.xls Despite household saving remaining higher than before the coronavirus pandemic, real
household disposable income (RHDI) fell by 1.2% this quarter. Nominal household gross disposable income grew by 1.8% but was offset by quarterly household inflation of 3.1%; the largest quarterly growth in household inflation since Quarter 4 1981, when it was 3.2%. 🠕 Back to the top Around 1 in 5 working adults (19%) has reported looking for better-paid work in response to the cost of living crisis, including promotion. The latest release on Public opinions and social trends for
Great Britain also showed that in the period 14 to 25 September 2022, 15% of working adults were working more hours than usual in their main job because of increases in the costs of living. Image
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.xls Most working adults (63%) reported they were not doing anything differently in terms of their work situation because of increases in the cost of living. The survey also revealed that around three-quarters (76%) of adults were very or somewhat worried about the cost of living. The cost of energy was also concerning adults in the period 14 to
25 September 2022. Around 4 in 10 (44%) of adults who pay energy bills said they found it very or somewhat difficult to afford them in the latest period. Around 3 in 10 (28%) of those who are currently paying rent or mortgage payments reported finding it very or somewhat difficult to make these payments. Households saved more than a quarter of their annual income during lockdowns
30 September 2022
Following the introduction of new data sources, the household saving ratio has revised upward in recent quarters
UK household saving ratio, percentage, Quarter 1 (Jan to Mar) 2015 to Quarter 2 (Apr to June) 2022
Source: ONS, Saving Ratio, Quarterly
Sector Accounts September 2022
Download this chart Following the introduction of new data sources, the household saving ratio has revised upward in recent quarters
Cost of living increases prompt adults to look for better-paid work
30 September 2022
Around 1 in 5 (19%) reported looking for a job that pays more money, including a promotion
Proportion of working adults in Great Britain, 14 to 25 September 2022
Source: Source: Office for National Statistics (ONS) – Opinions and Lifestyle Survey (OPN)
Download this chart Around 1 in 5 (19%) reported looking for a job that pays more money, including a promotion
- Read more about Public opinions and social trends, Great Britain: 14 to 25 September 2022
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UK GDP is estimated to have risen by 0.2% in Quarter 2 2022
30 September 2022
The first quarterly estimate of UK gross domestic product (GDP) shows an estimated rise of 0.2% in Quarter 2 (Apr to June) 2022, upwardly revised from a first estimate of a 0.1% fall.
The level of real GDP is now estimated to be 0.2% below where it was pre-coronavirus (COVID-19) at Quarter 4 (Oct to Dec) 2019, downwardly revised from previous estimates of 0.6% above.
There was a slowing in services output from 0.8% in Quarter 1 (Jan to Mar) 2022 to 0.2% in Quarter 2 2022. This was underpinned by an easing in the output areas of information and communication, and professional, scientific and technical activities. There was also continued weakness in the output produced by the wholesale and retail trade, and health industries.
Production output saw a revised downward fall of 0.2% in Quarter 2 2022 from an increase of 0.5% at the first quarterly estimate. This was driven by a 1.1% fall in manufacturing output, particularly in the manufacture of computer, electronic and optical products; manufacture of chemicals and chemical products; and manufacture of rubber and plastics products, and other non-metallic minerals.
Construction output rose by 1.1% in Quarter 2 2022, revised down from a first quarterly estimate of 2.3%. Seven of the nine construction sectors saw an increase in Quarter 2 2022, primarily driven by new work, and repair and maintenance.
Revised estimates show that growth in the latest quarter was upwardly revised to 0.2%, however the economy continues to slow
UK, Real GDP, Percentage growth, Quarter 1 (January to March) 2019 to Quarter 2 (April to June) 2022
Source: Office for National Statistics – GDP quarterly national accounts
Download this chart Revised estimates show that growth in the latest quarter was upwardly revised to 0.2%, however the economy continues to slow
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Revisions to GDP have meant a sharper contraction in 2020 followed by a stronger recovery through the pandemic.
Estimates show that UK GDP contracted by a downwardly revised 11.0% in 2020, reflecting the effects of COVID-19 restrictions, while UK GDP is now estimated to have expanded by an upwardly revised 7.5% in 2021.
- Read our latest bulletin on UK quarterly GDP.
- Read our latest bulletin on monthly GDP.
🠕 Back to the top
Consumer spending falls, with fuel purchases down
29 September 2022
Card spending on “automotive fuel” in the UK fell by 10 percentage points in the latest week, according to data from Revolut.
However, despite the recent falls, spending on automotive fuel was 12 percentage points higher than it was in the equivalent week of 2021.
There were also falls in “food and drink” spending, which fell 5 percentage points and has been falling steadily since mid-August 2022.
According to Springboard, overall weekly retail footfall in the week to 25 September 2022 was 93% of the previous week, with falls in all English regions and UK countries.
UK seated diners fell by 7 percentage points in the same period, and Pret a Manger transactions fell at most UK locations.
Weekly changes will have been affected by the State Funeral of Her Majesty Queen Elizabeth II on 19 September 2022.
- Read our latest bulletin on economic activity and social change in the UK, real-time indicators
🠕 Back to the top
Businesses considering raising prices because of energy costs
22 September 2022
More than a quarter (29%) of UK businesses expect the prices of the goods or services they sell to increase in October 2022, broadly stable with the previous month’s expectations. For businesses with 10 or more employees, 32% expect prices to increase.
Of those businesses considering raising prices, energy prices continued to be the most common reason for doing so, at 46% for all businesses and 55% for businesses with 10 or more employees. These are the highest reported percentages since this question was first introduced to the Business Insights and Conditions Survey in April 2022.
More than half (55%) of businesses with 10 or more employees reported energy prices as the main reason for considering raising prices in October 2022
Price expectations, businesses currently trading and are considering raising prices, broken down by response option and size band, weighted by count, UK, 1 to 31 October 2022
Source: Office for National Statistics – Business Insights and Conditions Survey
Download this chart More than half (55%) of businesses with 10 or more employees reported energy prices as the main reason for considering raising prices in October 2022
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The next most common reason reported by trading businesses considering raising their prices was the price of raw materials, at 29% for businesses of all sizes. For businesses with 10 or more employees this percentage was 34%.
In early September 2022, 35% of all trading businesses reported their production and/or suppliers had been affected by the recent increase in energy prices. This was up from 33% in early August 2022. For businesses with 10 or more employees, these percentages were higher at 45% and 44%, respectively.
- Read our latest bulletin on Business insights and impact on the UK economy
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Road traffic falls as the nation slows down for the State Funeral
22 September 2022
Road traffic decreased sharply by 45 percentage points as the nation slowed down on 19 September for the State Funeral of Her Majesty Queen Elizabeth II, according to data from the Department for Transport.
Nearly half (44%) of all trading businesses continued to report an increase in the prices of goods and services bought in August compared with the previous month. By contrast, the proportion of businesses reporting an increase in the prices of goods and services sold fell slightly by 3 percentage points during the same period.
Data from Adzuna showed only a marginal increase of around 2% in online job adverts during the past week. This was 12% lower than the equivalent week last year.
The system average price of gas in the UK rose by 13% in the week to 18 September 2022, finishing 106% higher than the equivalent period in 2021.
- Read our latest real time indicators on economic activity and social change in the UK
🠕 Back to the top
Related
- GDP monthly estimate, UK
Statistical bulletin | Released on 12 September 2022
Gross domestic product (GDP) measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy.
- Coronavirus and the latest indicators for the UK economy and society
Statistical bulletin | Released on 6 May 2021
This page has been superseded by the Economic activity and social change in the UK, real-time indicators page (see link in Notices) . This will be the new title and location of the bulletin presenting the real-time indicators of economic activity and social change, for 13 May 2021 and future releases.
- Business insights and impact on the UK economy
Statistical bulletin | Released on 22 September 2022
The impact of challenges facing the economy and other events on UK businesses. Based on responses from the voluntary fortnightly business survey (BICS) to deliver real-time information to help assess issues affecting UK businesses and economy, including financial performance, workforce, trade, and business resilience.
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Labour market overview, UK
Statistical bulletin | Released on 13 September 2022
Estimates of employment, unemployment, economic inactivity and other employment-related statistics for the UK.
-
Consumer price inflation, UK
Statistical bulletin | Released on 14 September 2022
Price indices, percentage changes, and weights for the different measures of consumer price inflation.
- Retail sales, Great
Britain
Statistical bulletin | Released on 16 September 2022
A first estimate of retail sales in volume and value terms, seasonally and non-seasonally adjusted.
- Public sector finances, UK
Statistical bulletin | Released on 21 September 2022
How the relationship between UK public sector monthly income and expenditure leads to changes in deficit and debt.
- UK trade
Statistical bulletin | Released on 12 September 2022
Total value of UK exports and imports of goods and services in current prices, chained volume measures and implied deflators.