💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

British workers move off furlough as economy reopens

Published 04/29/2021, 04:58 AM
Updated 04/29/2021, 05:55 AM
© Reuters. FILE PHOTO: People sit at an outside restaurant area, as the coronavirus disease (COVID-19) restrictions ease, at Covent Garden in London,

By David Milliken

LONDON (Reuters) -British employees returned to work and shoppers stepped up spending on clothes and furniture after lockdown restrictions eased across most of the country earlier this month, official figures showed on Thursday.

The proportion of employees on furlough between April 5 and April 18 dropped to 13%, down from 17% in the previous two-week period, according to a survey of businesses conducted by the Office for National Statistics.

Shops selling 'non-essential' goods reopened in England and Wales on April 12, and English pubs and restaurants were able to serve customers outdoors. COVID restrictions are also easing this month in Scotland and Northern Ireland.

The ONS said spending on what it calls 'delayable' goods such as clothes and furniture rose to 10% above pre-pandemic levels in the week to April 22, up by 21 percentage points from the week before when shops began to reopen.

Overall spending on credit and debit cards was now 98% of its level in February 2020, up from 91% the week before, based on high-value CHAPS payments data from card processors collected by the Bank of England, the ONS said.

However dining and drinking outdoors - during a period of chilly weather for the time of year - has been less appealing.

© Reuters. FILE PHOTO: People sit at an outside restaurant area, as the coronavirus disease (COVID-19) restrictions ease, at Covent Garden in London,

After a rush of demand on the first day that pubs and restaurants reopened, the level of reservations on April 24 was 62% of its level on the same Saturday two years earlier, similar to the 60% seen a week before.

Pubs and restaurants in England are expected to be allowed to resume indoor service, subject to social distancing requirements, on May 17.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.