- Retail sales rose 14% in June as more stores were allowed to open. An increase of 8% had been expected. The ONS commented that overall sales are now almost back to pre-pandemic levels but some have warned that this may be due to consumers reallocating funds which are usually reserved for other services, which are unavailable at the moment.
- Recovery expectations | A Deloitte survey of British businesses showed that nearly half of respondents expect a return to pre-pandemic levels in Q2 2021. 10% considered the recovery to have already happened.
- PMI | Readings for July show a “marked improvement” in business conditions, according to IHS Markit/CIPS as much of the UK returned to work and businesses reopened. However, manufacturing firms reported that output is slow to return and operating costs are increasing due to safety measures.
- 2024 recovery | The EY Item Club has forecast that the UK economy may not recover until late in 2024, in part due to the size of the GDP contraction.
- Hotel industry | UK lobby group UK Hospitality has warned that 20% of jobs at large chains are at risk.