Anecdotes and statistics should never be confused, but let’s do just that to build a composite picture of today’s UK economy. As the ‘cost of living crisis’ – barely out of its starting blocks – began to eat spending power and erode confidence, high street sales fell 1.4 per cent in March while non-store retail (largely online) dropped 7.9 per cent. Office occupancy, blighted by working from home, is stuck below 30 per cent of capacity. The City of London is a ghost town on Mondays and Fridays, while West End footfall remains a fifth below 2019 levels. But in case you’re planning a resumed commute or an in-town shopping binge any time soon, be aware that rail workers are threatening ‘the biggest rail strike in modern history’. In the unlikely case that you’re launching a new export venture to Europe, don’t even think of booking a P&O ferry. And if you’ve run short of cooking oil, remember it’s rationed in all major supermarkets.
Martin Vander Weyer
The one thing Netflix could do to keep me subscribing
issue 30 April 2022
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