Economy
The economy has a direct influence on the UK jewellery trade, affecting consumer spending, material costs, and business confidence across the sector. For jewellers, manufacturers, and suppliers, staying informed on economic trends is vital to planning and resilience. Jewellery Focus provides expert coverage of economic developments impacting the trade, including inflation, interest rates, consumer confidence, and supply chain challenges. Our reporting helps jewellery professionals understand the wider market forces shaping their business environment.
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Sep- 2020 -18 SeptemberCoronavirus
UK retail sales rise for fourth consecutive month
August saw retail sales volumes increase by 0.8% when compared with July, marking the fourth consecutive month of growth. According to the latest figures from the Office of National Statistics (ONS), this resulted in an increase of 4% when compared with Februaryโs pre-pandemic level of sales. The value of retail…
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10 SeptemberCurrent Affairs
Government launches new โbounce backโ plan for retailers
A new series of measures has been announced by the UK Government to support businesses in the consumer and retail industries during the Covid-19 pandemic.ย The plans, announced by Minister for exports Graham Stuart, will offer immediate support to businesses by ensuring specialists provide advice on online retail and international…
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7 SeptemberCoronavirus
Redundancies planned by 60% of mid-sized firms
More than half (60%) of the UKโs medium-sized businesses are planning redundancies as a result of the Governmentโs Coronavirus Job Retention Scheme coming to an end in October, according to new research from accountancy and business advisory firm, BDO. BDOโs monthly Rethinking the Economy survey of 500 medium-sized businesses across…
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7 SeptemberEconomy
GDP to contract ยฃ15.3bn each year if home working persists
Lower consumer spending and a decrease in economic clustering if pandemic levels of home working persist would reduce UK GDP by ยฃ15.3bn every year, according to new research published by PwC. The โBig Fourโ accountancy firm said the hit to consumption is a result of office workers spending fewer days…
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3 SeptemberRetailers
SMEs ‘plagued’ by late payments
UK freelancers and small business owners continue to be plagued by the problem of late payment, according to new research by cloud accounting software company Freeagent. Analysis of over two million invoices sent by FreeAgent customers between January 2019 and June 2020 has revealed the โstartling impactโ of late payment…
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Aug- 2020 -26 AugustAdvice
How COVID-19 has impacted global supply chains
The impact of COVID-19 has been swift and devastating to those directly affected. Not just from a health perspective but also for businesses who had to promptly close their doors as the country went into lockdown, particularly those in hospitality and retail. And as we now slowly emerge from these…
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24 AugustEconomy
Record economic growth anticipated for Q3
The UK is reportedly on track for a record economic resurgence during the third quarter of the year, following sharp declines in GDP at the peak of the Covid-19 pandemic in Q2. According to the Financial Times (FT), City of London economists have predicted a 14.3% rise in GDP for…
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19 AugustAuctions
John Pye welcomes highest auction figures in its history
John Pye Auctions has recorded its highest auction figures in its 52-year history, welcoming a 79% sales increase compared to pre-lockdown. The online auction house, which was crowned the UKโs Asset Valuer & Auctioneer for the last five years, said it has seen โunprecedentedโ liquidations with corporate insolvencies, product returns…
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13 AugustRetailers
Bira thanks governmentโs #ShopLocal Week
The British Independent Retailers Association (Bira) has thanked the government for the launch of #ShopLocal Week. The #ShopLocal campaign, which started on Monday (August 10) and runs until Sunday, August 16, aims to celebrate the British high street by encouraging customers to return to their safe, local shops, supporting the…
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12 AugustCurrent Affairs
UK in recession following 20% GDP slump
The UK economy has entered into a technical recession following a โrecordโ fall in gross domestic product (GDP) during the second quarter of the year. According to the Office for National Statistics, GDP slumped by 20.4% between April and June 2020, compared with the 2.2% drop seen during Q1 2020…
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