Lincoln and Greater Lincolnshire news
Independent retailers in Lincoln are bracing for challenging months ahead as the UK economy has officially entered a recession.
The director of economic statistics at the ONS, Liz McKeown, said: “While it has now shrunk for two consecutive quarters, across 2023 as a whole the economy has been broadly flat. “We’re not being as brash with buying,” he stated. After experiencing a “shaky” winter, particularly with the cancellation of the Lincoln Christmas Market, he remains optimistic about an uptick in business during the spring, thanks to the prime location of his shop on The Strait.
He said, “We had a good year up until about October and then we felt a decline.” However, he also shared that several businesses across the city have reported a strong first two months of the year during a Healthy High Street meeting on Wednesday.
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