In the aftermath of the shock win for leave in the UK's referendum on EU membership, there has been considerable uncertainty over the short- and long-term impacts on the UK economy. This report provides an overview of the impact Brexit has had on key economic indicators such as GDP, interest rates, unemployment and the housing market, and the subsequent impact on consumer confidence and retail growth and projections.
GDP growth knocked sideways in 2017, but momentum regains to 2021 In the short term, uncertainty over the final outcome of negotiations will cause businesses to postpone hiring and investment decisions, while consumers will delay purchases of property and rein in discretionary spend particularly on big ticket items, thus depressing GDP growth. In the longer term, reduced trade is likely to negatively affect GDP as lower returns to capital lead to reduced foreign direct investment (FDI), and stagnating wages lead to reduced consumption.
Interest rates cut, but further cuts unlikely The widely expected interest rate cut by the Bank of England in August 2016 is unlikely to stimulate a flurry of retail spending. With the immediate impact of the interest rate cut being a drop in the value of the pound, this move is hardly likely to boost flagging consumer confidence, which is a major factor in driving spend.
Unemployment stable for now, but likely to inch up towards 2021 Unemployment is forecast to slowly inch up towards 2021 as reduced foreign investment and low organic GDP growth reduces opportunities for new job creation, while limiting job progression in current roles with many having to remain in low paid/minimal hours contracts.
Economic & Retail Update H2 2016, an Economic Report by Verdict Retail, provides an executive-level overview of the economic environment following Brexit, with forecasts of key economic indicators and the various retail sectors.
It provides in-depth analysis of the following:
Market size and forecast; a look at the total market size and forecast size both annual and quarterly for the key retail sectors.
Economic forecasts for the key economic indicators including GDP, interest rates, unemployment, savings ration, consumer confidence and housing transactions.
Summary of main influences; an overview on the factors driving the evolution of the economy and retail sectors in the five years to 2021.
Reasons To Buy
This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of key economic indicators and retail sectors.
The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging retail market.
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