Economic activity and social change in the UK, real-time indicators: 6 June 2024

Early data on the UK economy and society. These faster indicators are created using rapid response surveys, novel data sources and innovative methods. These are official statistics in development.

This is the latest release. View previous releases

Contact:
Email Real Time Indicators team

Release date:
6 June 2024

Next release:
13 June 2024

1. Main points

  • Overall retail footfall increased by 7% in the week to 2 June 2024 when compared with the previous week, because of the May bank holiday and school half term, but remained broadly unchanged when compared with the equivalent week of 2023  (MRI OnLocation). Section 3: Consumer behaviour.

  • The annual growth in automotive fuel prices was 3% in the week to 26 May 2024 (Department for Energy, Security and Net Zero). Section 3: Consumer behaviour.

  • The total number of online job adverts on 31 May 2024 decreased by 4% from the level in the previous week and was 21% below the equivalent period of 2023 (Adzuna). Section 4: Business and workforce.

  • In late May 2024, nearly a third (32%) of businesses reported an increase in staffing costs (including wages, bonuses, National Insurance and pension contributions) over the last three months (final results from wave 109 of the Business Insights and Conditions Survey).

  • In the week to 2 June 2024, the System Price of electricity decreased by 12%, following two consecutive weeks of increases, while the System Average Price (SAP) of gas increased by 3% when compared with the previous week; both were higher than the equivalent week of 2023, by 9% and 40%, respectively (Elexon, National Gas Transmission). Section 5: Energy.

  • The daily average number of UK flights increased by 2% in the week to 2 June 2024 and was 6% higher than the equivalent week of 2023 (EUROCONTROL). Section 6: Transport.

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These are official statistics in development, and we advise caution when using the data. The data sources used to compile these indicators are regularly reviewed to ensure they are representative and relevant, which may mean indicators change at short notice. Read more in Section 9: Measuring the data.

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2. Latest indicators at a glance

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Notes:
  1. Card spending over time is pushed upwards by the impacts of both inflation on value of transactions and cash-to-card conversion.
  2. Revolut adjustments to user count are at an aggregate level and as such age bands may not adjust evenly.
  3. Indicators with SA in the title have been seasonally adjusted.
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3. Consumer behaviour

Automotive fuel spending

The annual growth rate in the estimated demand for fuel per transaction was negative 2% in the week to 26 May 2024. This was an increase of 1 percentage point when compared with the previous week, and was 4 percentage points lower than in the equivalent week of 2023.

The annual growth rate in average fuel prices was 3% in the week to 26 May 2024. This was an increase of 1 percentage point from a 2% growth rate in the previous week and was 18 percentage points higher than in the equivalent week of 2023.

Our accompanying Automotive fuel spending dataset is available.

National retail footfall

Overall retail footfall in the week to 2 June 2024 increased by 7% when compared with the previous week, because of the May bank holiday and school half term. This remained unchanged when compared with the equivalent week of 2023.

All three location categories saw increased footfall when compared with the previous week, with the largest increase seen in shopping centres, at 10%. When compared with the equivalent week in 2023, both shopping centres and retail parks saw 1% increases in footfall, while high street footfall fell by 1%.

Overall retail footfall increased across all 12 UK countries and English regions when compared with the previous week. The largest increase was seen in South West England, which increased by 13%.

When compared with the equivalent week of 2023, 9 of the 12 UK countries and regions saw a decrease in overall retail footfall. The largest decrease was seen in Scotland, falling to 5% below the level seen in the equivalent week of 2023.

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4. Business and workforce

Online job adverts

The total number of online job adverts on 31 May 2024 decreased by 4% when compared with the previous week, with adverts for jobs in all UK countries and English regions decreasing. The largest week-on-week decreases were seen in London and the North West, both falling by 5%.

The total number of online job adverts fell by 21% when compared with the equivalent period of 2023, with all UK countries and English regions decreasing. The largest year-on-year decrease was in Scotland, falling by 34%.

When compared with the equivalent period of 2023, the total number of online job adverts fell in 25 of the 28 job categories. The categories with the largest decreases were “Admin, clerical and secretarial” and “Construction and trades”, falling by 50% and 49%, respectively.

Our accompanying Online job advert estimates dataset is available.

Advanced notification of potential redundancies

Calculated as a four-week rolling average, the number of potential redundancies in the week to 26 May was 40% higher than the level in the equivalent week of 2023. The number of employers proposing redundancies was 24% higher when compared with the same period.

Comparisons with the equivalent period a year ago help account for any seasonal impacts. For more information, our accompanying Advanced notification of potential redundancies dataset is available.

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5. Energy

System Average Price of gas

In the week to 2 June 2024, the System Average Price (SAP) of gas increased by 3% when compared with the previous week, from a seven-day average price of 2.77 pence per kilowatt hour to 2.86 pence per kilowatt hour. This was 40% higher than the equivalent week of 2023, which had an SAP of 2.05 pence per kilowatt hour.

Our accompanying System Average Price (SAP) of gas dataset is available.

System Price of electricity

In the week to 2 June 2024, the System Price of electricity decreased by 12% when compared with the previous week, from a seven-day average price of 7.98 pence per kilowatt hour to 7.03 pence per kilowatt hour, following two consecutive weeks of increases. This is 9% above the equivalent week of 2023, which had a System Price of 6.47 pence per kilowatt hour.

Our accompanying System Price of electricity dataset is available.

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6. Transport

Daily UK flights

The daily average number of UK flights increased by 2% in the week to 2 June 2024. This was 6% higher than the number seen in the equivalent week of 2023.

Our accompanying Daily UK flights dataset is available.

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7. Data

Online job advert estimates
Dataset | Released 6 June 2024
Weekly snapshot of online job advert indices covering the UK job market. These are official statistics in development. Source: Adzuna.

UK spending on credit and debit cards
Dataset | Released 16 May 2024
Daily, weekly and monthly data showing seasonally adjusted and non-seasonally adjusted UK spending using debit and credit cards. These are official statistics in development. Source: CHAPS, Bank of England.

This section lists a selection of the data available in this publication. For the full list of available datasets, please see our accompanying dataset page.

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8. Glossary

Real-time indicator

A real-time indicator provides insights into economic activity using close-to-real-time big data, administrative data sources, rapid response surveys or experimental estimates, which represent useful economic and social concepts.

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9. Measuring the data

Official statistics in development

These statistics are labelled as “official statistics in development”. Until September 2023, these were called “experimental statistics”. Read more about the change in our Guide to official statistics in development.

We are developing how we collect and produce the data to improve the quality of these statistics. Read more in our Economic activity and social change in the UK, real-time indicators methodology article.

Once the developments are complete, we will review the statistics with the Statistics Head of Profession. We will decide whether the statistics are of sufficient quality and value to be published as official statistics, or whether further development is needed. Production may be stopped if they are not of sufficient quality or value. Users will be informed of the outcome and any changes.

We value your feedback on these statistics. Contact us at realtime.indicators@ons.gov.uk.

Dataset release dates and intended release frequency

Latest release dates and intended release frequency of our associated datasets are available in the following list. Please note that there may be some change to the intended release frequency because of a variety of reasons, such as data availability. If you would like further information about any of these datasets or previous release dates, please email: realtime.indicators@ons.gov.uk.

Weekly data release

Fortnightly data release

Monthly data release

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10. Strengths and limitations

These statistics have been produced to provide timely indicators of the effect of developing world events on the UK economy and society, using close-to-real-time big data, administrative data sources, rapid response surveys, or official statistics in development.

The data presented in this bulletin are reviewed and refreshed on a regular basis. Indicators are swapped in and out of the publication based on their suitability and availability.

UK coronavirus restrictions

Coronavirus (COVID-19) restrictions should be considered when interpreting the data featured throughout this bulletin.

Seasonality

Seasonal fluctuations are likely to be present in many of these indicators so caution must be applied when interpreting changes in series that are not seasonally adjusted.

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12. Cite this statistical bulletin

Office for National Statistics (ONS), published 6 June 2024, ONS website, statistical bulletin, Economic activity and social change in the UK, real-time indicators: 6 June 2024

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Contact details for this Statistical bulletin

Real Time Indicators team
realtime.indicators@ons.gov.uk