Economic Activity And Social Change In The Uk Real-time Indicators - 21 November 2024

21st November 2024

Overall retail footfall increased by 4% in the week to 17 November 2024 when compared with the previous week and was 2% higher when compared with the equivalent week of 2023. The week-on-week increases in overall retail footfall were seen across shopping centres, retail parks and high streets, which grew by 5%, 4% and 3%, respectively (MRI OnLocation).

Nearly 2 in 5 (39%) trading businesses with 10 or more employees reported that labour costs were causing them to consider raising prices in December 2024; this is up 9 percentage points from November 2024 (final results from wave 120 of the Business Insights and Conditions Survey).

The number of potential redundancies in the week to 3 November 2024 was 19% lower than the equivalent week of 2023, this was calculated as a four-week rolling average; the number of employers proposing redundancies was 1% lower when compared over the same period (The Insolvency Service: HR1 forms).

The annual growth rate in average automotive fuel prices remained broadly unchanged in the week to 10 November 2024 when compared with the previous week but decreased by 2 percentage points when compared with the equivalent week of 2023 (Department for Energy Security and Net Zero (DESNZ)).

The System Average Price (SAP) of gas increased by 9% to 3.849 pence per kilowatt hour (p/kWh) in the week to 17 November 2024 when compared with the previous week and increased by 10% when compared with the equivalent week of 2023; the System Price of electricity was broadly unchanged at 9.409 p/kWh when compared with the previous week and increased by 3% when compared with the equivalent week of 2023 (National Gas Transmission, Elexon).

The number of ship visits to major UK ports decreased by 1% in the week to 17 November 2024 when compared with the previous week and decreased by 7% when compared with the equivalent week of 2023; the number of UK flights decreased by 3% in the most recent week but increased by 3% when compared with the equivalent week of 2023 (exactEarth, EUROCONTROL).

The total number of Energy Building Performance Certificates (EPCs) for new dwellings across England and Wales in the week to 17 November 2024 was 3% lower when compared with the equivalent period of 2023; the total number of EPCs for existing dwellings, however, was 4% higher than the equivalent period of 2023 (Ministry of Housing, Communities and Local Government).

Read the full ONS report HERE