Economic activity and social change in the UK, real-time indicators: 7 March 2024

• In the latest week, aggregate UK spending on credit and debit cards rose by 2%, while overall retail footfall remained broadly unchanged and transactions at Pret A Manger stores increased in 9 of the 10 location categories (Bank of England CHAPS, Springboard, Pret A Manger). Section 3: Consumer behaviour.

• The total number of online job adverts on 1 March 2024 was 17% below the level seen in the equivalent period of 2023, continuing the downward trend since February 2022 (Adzuna). Section 4: Business and workforce.

• In late February 2024, one in five (20%) businesses reported they are either using or intending to use increased home working as a permanent business model going forward; of these businesses, 53% reported reduced overheads as a reason for doing so (final results from Wave 103 of the Business Insights and Conditions Survey).

• In the week to 3 March 2024, both the System Average Price (SAP) of gas and the System Price of electricity increased by 9% when compared with the previous week, however, both indicators are at least 50% lower than the equivalent week of 2023. (National Gas Transmission, Elexon). Section 5: Energy.

• Transport indicators have displayed mixed activity in the latest week; the daily average number of UK flights increased by 1% and the average pedestrian and cyclist levels in London increased by 5%, meanwhile the average number of daily ship visits decreased by 3% (EUROCONTROL, Transport for London, exactEarth). Section 6: Transport.

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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.

UK spending on debit and credit cards: weekly, seasonally adjusted (SA) CHAPS-based indicator

Users should note that the "work-related" and "social" CHAPS series have been withdrawn in 2024 because of sample population issues. We will continue publishing the aggregate, staple and delayable series while we are undertaking a review of the component series and will provide an update in due course. Please note that the "work-related" and "social" categories still contribute to the "aggregate" series.

The spending categories, when seasonally adjusted, recorded the following changes in the latest week:

• "aggregate" increased by 2%

• "delayable" decreased by 1%

• "staple" increased by 2%

When compared with the same week in 2023, the spending categories, when seasonally adjusted, recorded the following changes:

• "aggregate" decreased by 1%

• "delayable" decreased by 9%

• "staple" was broadly unchanged

The weekly and monthly seasonally adjusted CHAPS indices, and the daily and monthly non-seasonally adjusted CHAPS indices, are available in our accompanying UK spending on credit and debit cards dataset.

UK spending on debit and credit cards: monthly, seasonally adjusted (SA) CHAPS-based indicator

In February 2024 the SA CHAPS-based aggregate indicator of credit and debit card spending was broadly unchanged when compared with the previous month, and decreased by 2% when compared with February 2023.

After seasonal adjustment, the "staple" category was broadly unchanged, when compared with the previous month, while the "delayable" category decreased by 4%. When compared with February 2023, the "staple" category increased by 1%, and the "delayable" category decreased by 9%.

The monthly and weekly seasonally adjusted CHAPS indices, and the monthly and daily non-seasonally adjusted CHAPS indices, are available in our accompanying UK spending on credit and debit cards dataset, which includes methodological notes that users should take into consideration. The monthly CHAPS index is calculated by the Office for National Statistics (ONS), rather than being an additional series that is produced and validated by the Bank of England.

Automotive fuel spending

The annual growth rate in estimated demand for fuel per transaction was 0% in the week to 25 February 2024. This is a decrease of 1 percentage point when compared with the previous week, however, this was 8 percentage points higher than the equivalent period of 2023.

In the same week, the annual growth rate in average fuel prices was at negative 6%. This is 1 percentage point higher than the previous week, but 8 percentage points lower than the equivalent week in 2023.

Our accompanying Automotive fuel spending dataset is available.

National retail footfall

Overall retail footfall in the week to 3 March 2024 remained broadly unchanged when compared to the level seen in the previous week, however this decreased to 99% of the level in the equivalent week of 2023. Retail park footfall increased to 102% of the previous week, showing the largest change across the three location categories. Both high street and shopping centre footfall remained broadly unchanged when compared with the previous week. When compared with the equivalent week in 2023, the largest decrease was observed in high street footfall, which decreased to 98%.

Overall retail footfall increased in 7 and decreased in 5 of the 12 UK countries and regions. The largest decrease occurred in the East of England, where footfall decreased to 94% of the level seen in the previous week. When compared with the same period of 2023, the largest decrease was observed in Wales, which decreased to 93%.

Transactions at Pret A Manger

In the week to 29 February 2024, the number of in-store transactions at Pret A Manger stores increased in 9, and decreased in 1 of the 10 location categories when compared with the previous week. The largest increase occurred in London Stations, increasing by 9%. The only decrease occurred in Regional Towns store locations, decreasing by 13% when compared with the previous week.

Compared with the equivalent week of 2023, the number of in-store transactions at Pret A Manger increased in 3, decreased in 6, and remained broadly unchanged in 1 of the 10 location categories. The largest increase occurred in Regional Station store locations, increasing by 4%, while the largest decrease occurred in London Stations, decreasing by 8%.

Our accompanying Transactions at Pret A Manger dataset is available.

These figures are innovative estimates of online job adverts by category, UK country, and English region, provided by Adzuna, an online job search engine. The number of job adverts over time is an indicator of the demand for labour. The Adzuna categories used do not correspond to Standard Industrial Classification (SIC) categories, so these values are not directly comparable with our Vacancy Survey.

The number of online job adverts on 1 March 2024 remained broadly unchanged when compared with the previous week. Of the 12 UK countries and English regions, 5 decreased, 3 increased, and 4 remained unchanged.

When compared with the equivalent period of 2023, the total number of online job adverts fell by 17%, with the largest decreases in Scotland, which fell by 29%, and London, which fell by 24%.

When compared with the equivalent period of 2023, the total number of online job adverts has fallen in 25 of the 28 job categories. The largest decreases were in the "Construction and Trades" and "Charity and Voluntary" categories, falling by 51% and 47%, 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 25 February 2024 was 16% below the level in the equivalent week of 2023. However, the number of employers proposing redundancies was 14% above the level in the equivalent week of 2023.

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.

System Average Price (SAP) of gas 

In the week to 3 March 2024, the System Average Price (SAP) of gas increased by 9% when compared with the previous week, however, this was 50% lower than the equivalent week of 2023.

Our accompanying System Average Price of gas dataset is available.

System Price of electricity

In the week to 3 March 2024, the System Price of electricity increased by 9% when compared with the previous week, however, this was 57% lower than the equivalent week of 2023.

Our accompanying System Price of electricity dataset is available.

Weekly shipping indicators

In the week to 3 March 2024, the average number of daily ship visits decreased by 3%, when compared with the previous week. In the same period, the average number of daily cargo and tanker ship visits increased by 3%.

When compared with the equivalent week in 2023, the average number of daily ship visits decreased by 4%, while the average number of daily visits from cargo and tanker ships decreased by 4%.

Our accompanying Weekly shipping indicators dataset is available.

Daily UK flights

In the week to 3 March 2024, the daily average number of UK flights increased 1% compared with the previous week and is now 5% higher than the equivalent week of 2023.

Our accompanying Daily UK flights dataset is available.

Traffic camera activity

In the week to 3 March 2024, the average traffic camera activity for cars in London increased by 2% compared with the previous week. Meanwhile, average pedestrian and cyclist levels in London increased by 5% in the same period.

Our accompanying Traffic camera activity dataset is available.

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.

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.

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 (COVID-19) restrictions

Coronavirus 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.