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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Jun- 2020 -12 JuneCurrent Affairs
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 ONSโ series began in 1997, with the measure also falling by 10.4% in the three months…
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11 JuneRetailers
Majority of SMEs believe UK is headed for deep recession post-pandemic
Almost seven in 10 (69%) small business owners believe the UK is heading for a deep recession following the coronavirus pandemic and resulting lockdown, according to new research from FreeAgent. In addition, almost three quarters (73%) believe many small businesses will struggle to make enough money to survive and two…
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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 toย KPMGย UKโs latest quarterly Economic Outlook, which considered…
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9 JuneCoronavirus
Bira opposed to proposed relaxation of Sunday trading laws
The British Independent Retailers Association (Bira) has expressed concern for proposed relaxation of Sunday trading laws. Under plans being suggested by the government, England could suspend Sunday trading laws for a year in a bid to boost the economy. However, Bira, who has added its support to the โKeep Sunday…
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May- 2020 -27 MayDesigners
Crafts Council publishes first industry report
The Crafts Council, alongside support from the Goldsmiths’ Company, has published the first major report that identifies the strength and popularity of the craft industry in Britain.ย Its findings will work to help drive market demand and โinform an action plan for the economic recovery of the craft sector, post…
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26 MayCoronavirus
Non-essential retailers set to open in June
Thousands of high street shops, department stores and shopping centres across England are set to reopen next month once they are โCovid-19 secureโ and can show customers will be kept safe, Prime Minister Boris Johnson has said. All non-essential retailers including shops selling clothes, shoes, toys, furniture, books, and electronics,…
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14 MayCoronavirus
Usdaw welcomes scrutiny of the Protection of Workers as it calls for the bill to progress
Shop workers trade union Usdaw has welcomed further scrutiny of the Protection of Workers (retail and age-restricted goods and services) (Scotland) Bill (Scotland) at the economy, energy and fair work committee meeting.ย Usdaw calls for the bill to complete stage one and progress to stage two of the legislative process,…
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13 MayRetailers
UK economy shrinks by 2% as pandemic takes its toll
The UKโs 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…
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11 MayRetailers
Trouble ahead for retail vacancy rates, warns BRC
Theย Britishย Retail Consortium (BRC) and Local Data Company has said the new BRC-LDC Vacancy Monitor has revealed that the rate of store vacancies increased to 12.2% in March. The monitor also reported a 0.3% decrease in vacancy rates in shopping centres to 14.1% compared with 14.4%. The South West and Wales…
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7 MayCoronavirus
Birmingham Assay Office reopens gem lab amid Covid-19 pandemic
The Birmingham Assay Office has re-opened its gem lab and is now fully operational three days a week amid the Covid-19 crisis. Like many other businesses, the Birmingham Assay Office temporarily closed its doors on Tuesday 24 March for three weeks as stipulated by the government, but last month hallmarking…
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