Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

UK Consumer Spending Slips, Fewer People Work From Home

By Dayeeta Das
Share this article

More British people returned to offices after schools in England reopened, but there were falls in consumer spending and ships calling at British ports, weekly official figures on the impact of COVID-19 on the economy showed on Thursday.

Bank of England CHAPS payment data showed debit and credit transactions at 80% of their February 2020 level in the week to 11 March, down from 83% of their pre-pandemic level the week before.

The Office for National Statistics, which published the data, said the fall reflected a drop in spending on 'staples' - such as food and utility bills - which typically peak around the turn of the month. The data is not seasonally adjusted.

Volatile Figures

The weekly figures are more volatile than the main monthly data published by the ONS - which showed economic output collapsed by 10% last year - but are intended to give a quicker sense of how the economy is performing.

Some 53% of British workers travelled to their place of work at least once during the week to 14 March, up from 48% in the week before, while the proportion working solely from home fell to 30% from 36%.

The ONS said the increase coincided with the reopening of schools in England on 8 March.

The number of cargo ships calling at British ports - sometimes used as an indicator of disruption from COVID and Brexit - was 17% lower than the previous week and 15% below its year-ago level in the week to 14 March.

This reversed an upward trend seen since the start of the year, and the ONS said it could reflect disruption caused at some ports by strong winds on 11 March.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days

Copyright © 2023. All rights reserved. Developed by Square1 and powered by PublisherPlus.com