Economic Activity And Social Change In The Uk, Real-time Indicators - 1 August 2024

1st August 2024

Early data on the UK economy and society. These faster indicators are created using rapid response surveys, novel data sources and innovative methods. These are official statistics in development.

Overall retail footfall increased by 4% in the week to 28 July 2024 when compared with the previous week, coinciding with the start of school summer holidays; this was 1% above the level in the equivalent week of 2023 (MRI OnLocation).

The year-on-year growth rate for sales by small businesses was at negative 5% in June 2024, down 15 percentage points from the growth rate in June 2023; the year-on-year growth rate for employees in paid jobs in small businesses was at 1%, remaining broadly unchanged from the rate a year before (Xero).

The total number of online job adverts on 26 July 2024 increased by 6% when compared with the previous week but was 12% lower than the equivalent week of 2023 (Adzuna).

When asked in late July 2024, more than a quarter (28%) of businesses with 10 or more employees reported they had purchased goods or services from a UK nation other than their own in the last 12 months; this is the highest reported figure since the question was introduced in October 2023 (final results from wave 113 of the Business Insights and Conditions Survey).

The System Price of electricity increased by 7% in the week to 28 July 2024 compared with the previous week, to 7.883 pence per kilowatt hour, however, this was 3% lower than the level seen in the equivalent week of 2023; meanwhile, the System Average Price (SAP) of gas rose by 7% from the equivalent week in 2023, to 2.514 pence per kilowatt hour (Elexon, National Gas Transmission).

The daily average number of UK flights increased by 1% in the week to 28 July 2024 when compared with the previous week; this was 4% higher than the equivalent week of 2023 (EUROCONTROL).

Read the full ONS report HERE