New data from the Office for National Statisttics (ONS) has found that 26% of trading businesses reported a decrease in their turnover in August 2024 compared with July 2024. This is an increase of 3% compared to last month and the highest proportion reported since January 2024; in contrast,14% reported an increase in their turnover, remaining broadly stable from last month. 19% of trading businesses expect an increase in turnover in October 2024, with 53% expecting turnover to stay the same and 14% expecting a fall. Businesses reported that economic uncertainty (21%) had the most impact when considering challenges to turnover. To read the ONS’ news release, go to https://www.ons.gov.uk/businessindustryandtrade/business/businessservices/bulletins/businessinsightsandimpactontheukeconomy/19september2024.