‘Pent-up demand’ and good weather bring shoppers out in May | Business News

Good weather and “pent-up demand” for shopping saw an uptick in the number of consumers in physical stores during May.

Figures from consumer intelligence company Springboard showed a 73.3% drop in footfall during the second month of lockdown – the lowest on record – but it was an improvement from the 80% fall in April.

The UK went into lockdown on 23 March to slow the spread of the COVID-19, with all retail stores deemed non-essential forced to close.







Long queues at Birmingham Ikea

The government has since allowed some home stores and garden centres to reopen during May and car show rooms began trading from the start of June.

Retail parks have led the recovery in the number of shoppers, partly aided by the presence of essential food stores and home stores that have stayed open during the coronavirus outbreak.

The 55.1% drop in footfall at retail parks

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Coronavirus: Wizz Air chief warns quarantine could see flight demand fall by up to 80% | Business News

Demand for flights to and from the UK could be hit by up to 80%, according to the chief executive of Wizz Air.

Jozsef Varadi is among a number of airline executives who have warned that the government’s quarantine plans will cause further anguish for an industry already in crisis and cutting thousands of jobs.

Mr Varadi told Sky’s Ian King Live programme that he expected demand “coming down substantially, probably in the magnitude of 60-80%” and that the airline was “adjusting our own capacity according”.

“Unfortunately, what it really means is air travel is going to be down to and from the UK, which is possibly going to affect quite a number of jobs and certainly will affect the broader economy as a result.”

He described the quarantine as a “hard measure” adding that it is “quite doubtful how enforceable it is and how much it is going to

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Wizz Air chief: Coronavirus quarantine could see flight demand fall by up to 80% | Business News

Demand for flights to and from the UK could be hit by up to 80%, according to the chief executive of Wizz Air.

Jozsef Varadi is among a number of airline executives who have warned that the government’s quarantine plans will cause further anguish for an industry already in crisis and cutting thousands of jobs.

Mr Varadi told Sky’s Ian King Live programme that he expected demand “coming down substantially, probably in the magnitude of 60-80%” and that the airline was “adjusting our own capacity according”.

“Unfortunately, what it really means is air travel is going to be down to and from the UK, which is possibly going to affect quite a number of jobs and certainly will affect the broader economy as a result.”

He described the quarantine as a “hard measure” adding that it is “quite doubtful how enforceable it is and how much it is going to

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China drives global oil demand recovery out of coronavirus collapse

BEIJING/NEW YORK/TOKYO (Reuters) – China’s oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns.

FILE PHOTO: A China Ocean Shipping Company (COSCO) vessel is seen near oil tanks at the China National Petroleum Corporation (CNPC)’s Dalian Petrochemical Corp in Dalian, Liaoning province, China October 15, 2019. REUTERS/Stringer

While China – the world’s second-largest oil consumer – is the outlier for now, easing travel restrictions and stimulus packages aimed at resuscitating economies could accelerate global oil demand in the second half of 2020, industry executives said.

“The brisk resumption of Chinese oil demand, 90% of pre-COVID levels by the end of April and moving higher, is a welcome signpost for the global economy,” said Jim Burkhard, vice president and head of

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