Business Insights And Impact On The UK Economy

22nd June 2024

More than 1 in 5 (22%) trading businesses reported that their turnover had decreased in May 2024 compared with April 2024, which is broadly stable from last month; in contrast, 17% reported that their turnover was higher, while the proportion that reported turnover stayed the same was 52%.

Nearly a quarter (24%) of trading businesses reported an increase in the prices of goods or services bought in May 2024 when compared with April 2024, down 4 percentage points.

Approximately 1 in 10 (11%) trading businesses expected to raise the prices of goods or services they sell in July 2024, broadly stable with expectations for June 2024, while 68% reported that they expect prices to stay the same, up 4 percentage points over the same period.

Fewer than 1 in 10 (6%) businesses with 10 or more employees experienced global supply chain disruption in May 2024, broadly stable with April 2024.

Approximately 1 in 6 (16%) trading businesses reported that their overall performance increased in May 2024 compared with the same calendar month last year, while 22% reported that they expect their overall performance to increase over the next 12 months.

In early June 2024, 22% of businesses with 10 or more employees reported that they were experiencing worker shortages, broadly stable with early May 2024.

Read the full report HERE