UK | Cold snap sends shoppers online, warms up activity data

The recent spell of very cold weather seems apt for an economy partially frozen as a result of lockdown. High-frequency indicators of economic activity have remained depressed in recent weeks. Most of these are still below levels recorded during the last lockdown in November, reflecting the tighter, more extensive, restrictions this time and a stronger ‘stay at home’ message.

What you will learn from this report:

  • The impact of the latest lockdown is still taking a toll on UK high-frequency indicators. But the data continues to suggest that activity is riding out the restrictions much better than in the first lockdown last spring.
  • Some measures of mobility eased in early February, but credit and debit card use has picked up over the same period. Both moves may, in part, reflect the consequences of unseasonably cold weather in encouraging online spending.

Topics: Consumer spending, Online retail, Coronavirus, Real Estate, Lockdown

Cold snap sends shoppers online, warms up activity data - iPad