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UK Leisure Sector - Q1 2014


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Q1 2014 has witnessed a robust performance from both the UK economy and leisure sector. Positive LfL sales recorded by Mitchells & Butlers, The Restaurant Group and Spirit Group highlight that the recovery in consumer spending is not limited to London and the South East. Real earnings growth remains beneath inflation, however, with growth rising and inflation falling, there is genuine optimism that average UK household income in real terms will rise for the first time in many years. The strong residential sector is also a key component as annual price increases for the three months to February 2014 of 7.9% was recorded by Halifax. The outlook for Q2 and the rest of 2014 is favourable, and as such the outlook for the UK Leisure Sector is encouraging.

UK Economy

Four consecutive quarters of GDP growth in 2013 saw the UK economy grow by 2.7%, with the size of the UK economy now predicted to be back to pre-recessionary levels by the end of Q2 2014. Inflation (CPI) now comfortably beneath the Government's 2% target at 1.7% in February, driven predominantly by lower petrol prices. Consumer confidence has shown steady improvement in the last 12 months, albeit still recording a negative figure. March 2014 recorded -5, but a marked improvement from March 2013 of -26. The unemployment rate continues to fall with 7.2% of the active workforce currently seeking employment.


Graeme BunnPaul Hardwick
T. 020 7280 4740T. 020 7280 4749
E. graeme.bunn@fleurets.comE.

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