Economics bulletin 02 December

Date : 01 December 2022

Your overview of economic and policy news with a focus on the food and consumer goods industry. Featuring the latest developments and guidance on the rising cost of living, the Ukraine crisis, labour shortages, COVID-19 and adapting to a new relationship with the EU.

Low shopper confidence

IGD’s shopper confidence index has declined slightly to -25 compared to -24 last month. This is one of the lowest levels recorded. Around six in ten expect to be worse off financially in the year ahead.

ShopperVista subscribers can read the full report here.

Food and Drink market declines

The UK food and drink market will shrink by 2% in real terms in 2022, driven by trading down in retail. The eating out market has recovered to 27% of the market but remains still some way below the pre-pandemic share of 37%.

See here for further details.

Avian flu update

New compulsory biosecurity and housing requirements will be introduced for poultry and captive birds in Wales, due to the spread of Avian influenza.

This is in addition to the England-wide mandatory housing order that came into effect on 7 November.

Funding to tackle obesity

The government has announced £20m funding to support the research and development of cutting-edge obesity treatments and technologies.  The fund could support a wide range of technologies including apps to encourage lifestyle changes.

Investment in fisheries

The government has reached a deal with Norway to secure £5m worth of whitefish and arctic fishing stocks from 2023 for UK vessels.  The deal also ensures UK vessels have access to Norwegian waters to fish their own demersal and pelagic quota.

Additionally, the government has announced £20m of investment to modernise Scottish fish processing facilities as part of the £100m UK seafood fund.    


More economic news and analysis

Sign up to our bulletin

Our round-up of the latest economic and political news, focused on FMCGs