Posted by: Jonathan Bayfield
Retail Research
Jones Lang LaSalle EMEA Research
Some positive news this week, as the UK economy managed to exceed analysts’ expectations and achieve growth of 0.3% in Q1, thus avoiding an unprecedented triple dip recession, and providing a timely boost to sentiment after an uncertain beginning to 2013. Unfortunately, notwithstanding this progression, the UK’s GDP is still 2.6% below its pre-recession peak in the first quarter of 2008. For me those times seem like an eternity away, before I even started in this industry. The service sector was the main basis of growth in the first quarter, growing by 0.6% and contributing almost 0.5 percentage points to GDP. Sales in the retail sector fell in January and March, but a strong February helped it notch up growth of 0.3% overall in the quarter. Read the rest of this entry »