CMS/LPM
State of the Economy
Recent economic indicators have raised concerns about the UK's financial stability. With zero GDP growth reported in the third quarter of 2024 and sectors such as manufacturing and private employment experiencing contractions, the risk of a recession looms large. According to the O ce for National Statistics (ONS), manufacturing output dropped by
3.4% in 2024, and private sector employment faced its fastest decline since 2009, excluding the pandemic period. To e ectively address the various challenges we face, we must engage in a collective e ort to stimulate economic activity within our communities. One practical and impactful solution is to prioritise shopping locally. By supporting local businesses, we not only help to
High-Street Closures vs. E-commerce Growth
High-Street Closures E-commerce Growth
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The chart shows the correlation between the decline of high-street businesses and the rise of e-commerce platforms. Number of high-street closures over time (e.g., 2010–2024) compared to the revenue growth of e-commerce companies like Amazon.
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