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7 May 2021

Based at Activate Learning's Bracknell & Wokingham College campus this brand new workshop is the latest addition to their expanding number of Cytech training workshops across the country.

7 May 2021

Pennine Cycles, shortlisted last year for two awards in the Best Small Shops competition, have now been nominated in the BikeBiz Awards

6 May 2021

Maybe* take examples from successful businesses that used social media to flourish despite the pandemic

5 May 2021

The Government has agreed an amendment to the Financial Services Bill which will enable shops to offer cashback to customers without making a purchase.

29 Apr 2021

Armed with research data from Maybe*, a panel of retail industry expertshave collaborated to create this whitepaper with one goal - to help businesses thrive in this new era of uncertainty.

28 Apr 2021

The Bank of England has released free training materials for retailers with the aim of refreshing awareness of how to check banknotes.

28 Apr 2021

ACT members can receive excellent benefits with NearSt, a powerful platform that encouragers more shoppers through the doors of specialist cycle shops

27 Apr 2021

Defra has just confirmed that the amendments to the Single Use Carrier Bags Charges (England) Order 2015 will not be coming into force on 30th April 2021 as originally...

26 Apr 2021

A summary of what each party's manifesto will mean for small shops ahead of the Welsh Parliamentary elections on 6th May.

23 Apr 2021

A summary of what each party's manifesto will mean for small shops ahead of the Scottish Parliamentary elections on 6th May.

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'Optimism is in the air' according to BRC Economic Briefing Report

Posted on in Business News , Cycles News

'Optimism is in the air', according to the British Retail Consortium's (BRC) Economic Briefing Report reported by IRC member BIRA.

The latest UK economic data has been significantly better than expected. GDP fell by 2.9% in January compared to December, beating expectations of a drop of 4.9%. OBR forecast in March that the UK economy would regain its pre-pandemic size in the Q3 2022, six months earlier than it forecast in November.

Key insights from the new research reveals the following:

  • The latest UK economic data has been significantly better than expected. GDP fell by 2.9% in January compared to December, beating expectations of a drop of 4.9%. OBR forecast in March that the UK economy would regain its pre-pandemic size in the Q3 2022, six months earlier than it forecast in November.
  • Unemployment, unexpectedly, fell to 5% in January and the number of UK furloughs dropped by 5% in February. It looks like the economy has learnt to cope with health restrictions and can operate at higher capacity.
  • BRC-KPMG sales rose in February by 1.0%, although Non-Food sales remained in negative territory (-5.5% over the three months to February).
  • But the better-than-expected performance of the UK economy was overshadowed by January trade figures, with EU food exports down 75.5% on the year and EU food imports down 24.8%.
  • However, there is a strong optimism for a robust rebound from households and businesses alike.

 

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