London, June 15, 2023 – The latest release of experimental data and analysis on economic activity and social change in the UK provides insights into the current state of affairs. These real-time indicators, incorporating rapid response surveys, novel data sources, and experimental methods, offer valuable information on various aspects of the economy. Here are the main highlights:
- Business and Workforce:
- 3% of firms reported increased turnover in May 2023, after seasonal adjustment, showing a positive trend compared to the previous two months.
- The total number of online job adverts slightly decreased by 1% on June 9, 2023, compared to the previous week, with a 10% decline from the same period last year.
- 17% of trading businesses anticipate raising prices in July 2023, with 27% citing energy prices as a factor influencing these considerations.
- Rental Agreements and Expenditure:
- The average proportion of gross income spent on new rental agreements in the UK was 26.9% in May 2023, representing a 1.8 percentage point increase since May 2019.
- Rental tenancy expenditure has remained relatively stable over the past two years.
- Energy Prices:
- Gas prices increased by 15% and electricity prices rose by 37% in the week leading up to June 11, 2023, compared to the previous week. However, both prices remained over 20% lower than the same period last year.
- Consumer Behavior:
- Revolut debit card spending decreased by 8 percentage points, indicating a decline in consumer activity.
- Overall retail footfall reached 95% of the previous week’s level.
- Transactions at various Pret A Manger locations increased, with a noteworthy 21 percentage point rise in transactions at London city worker stores following the end of half-term holidays in some parts of the UK.
- Air Travel:
- The average number of UK flights rose by 1% compared to the previous week and showed a 5% increase compared to the same period last year. This aligns with the usual seasonal patterns observed since mid-March 2023.
Please note that these results are experimental and subject to revision. The data sources used to compile these indicators are regularly reviewed to ensure their accuracy and relevance, which may lead to changes in the indicators at short notice.
For further details, previous releases, and additional information, refer to the official statistical bulletin.