GDP
Reporting focuses on the implications of UK economic growth data for the foodservice and hospitality sector, including how GDP trends affect consumer spending, investor confidence, supply chain stability, and business sentiment. Coverage is designed to help operators, F&B executives, and catering professionals assess macroeconomic conditions that influence trading performance, expansion plans, and long-term resilience.
-
Jul- 2020 -14 JulyCoronavirus
UK GDP slumped 19.1% in three months to May
GDP fell by 19.1% in the three months to May 2020, as government restrictions on movement dramatically reduced economic activity. According to new data from the Office for National Statistics (ONS), this was driven by falls in nearly every industry, most notably by food and beverage service activities, which fell…
Read More » -
Jun- 2020 -30 JuneCoronavirus
Revised ONS data reveals greater GDP drop in Q1 2020
The UK’s gross domestic product (GDP) in volume terms fell by 2.2% in Q1 2020, which has been revised downwards by 0.2 percentage points from the Office for National Statisitic’s (ONS) first quarterly estimate. The ONS said it is the largest fall in UK GDP since Q3 1979, when it…
Read More » -
16 JuneCoronavirus
UKH urges Government to confirm hospitality reopening date
UKHospitality has urged the Government to confirm a re-opening date for hospitality and tourism, to allow businesses to prepare for a return to trading. Following the Government’s announcement of a review of social distancing requirements, the trade body has written to Secretaries of State at BEIS and DCMS, to “reiterate…
Read More » -
15 JuneCoronavirus
Hospitality sector responsible for a quarter of GDP fall
The hospitality sector was responsible for nearly a quarter of GDP losses reported across the UK in April, according to the latest data from UKHospitality and CGA. According to the industry bodies, this figure highlights the “urgent need” for the sector to be allowed to reopen this summer. Total GDP…
Read More » -
12 JuneCoronavirus
UK GDP slumps over 20% in April as full impact of Covid-19 is felt
GDP slumped by 20.4% in April 2020, following a fall of 5.8% in March, according to the latest figures from the Office for National Statistics (ONS). It is the biggest monthly fall since the ONS’ series began in 1997, with the measure also falling by 10.4% in the three months…
Read More » -
10 JuneCoronavirus
UK GDP expected to decline 7.2% in 2020 amid ongoing pandemic
The continuing impact of the Covid-19 virus is expected to see the UK economy contract by 7.2% in 2020, with the economy unlikely to be able to fully restart until a vaccine or effective treatments for the virus are available. This is according to KPMG UK’s latest quarterly Economic Outlook,…
Read More » -
May- 2020 -28 MayComment
How can hospitality recover from the Covid crisis?
Covid-19 is a crisis unlike any other people have faced in living memory. Aside from the very real human cost, the economic impact has been devastating, with hospitality among the sectors most severely affected by the pandemic. Marble Arch BID is home to more than 100 restaurants, cafés, bars and…
Read More » -
13 MayCatering Companies
UK economy shrinks by 2% as pandemic takes its toll
The UK’s economy shrank by 2% in the three months to 31 March 2020, as a result of the Covid-19 pandemic. This is according to new data from the Office for National Statistics (ONS), which also found that gross domestic product (GDP) fell by 5.8% during March, the largest fall…
Read More » -
11 MayCoronavirus
Almost half a million UK businesses at risk of insolvency due to pandemic
One in 10 British businesses say that there is a high risk they will enter insolvency as a result of the coronavirus crisis, according to the Opinium-Cebr Business Distress Tracker. The Centre for Economics and Business Research (CEBR), which conducted the survey, said this equates to more than half a…
Read More » -
Apr- 2020 -16 AprilCoronavirus
Government extends lockdown for ‘at least’ three more weeks
The government has announced an extension to the coronavirus lockdown for “at least” a further three weeks. The decision was announced at today’s (16 April) press briefing which was led by foreign secretary Dominic Raab. It also comes after Raab led an emergency Cobra committee and cabinet meetings about…
Read More »
