The wave of strikes across the UK in recent weeks could also hit economic growth this quarter.
Pubs and restaurants in the City of London have reported that sales were cut to almost half pre-pandemic levels during last week’s rail strikes, according to Bloomberg.
Kate Nicholls, chief executive officer of trade group UKHospitality, said takings were 46% lower in real terms than during the same week in 2019. Four days of strikes caused chaos on train services and convinced many people to work from home.
Across London as a whole, revenue was down 37% last week compared with 2019 and adjusting for inflation, Nicholls said. Hospitality businesses across the UK reported a 30% cancellation rate on bookings, as Christmas parties were called off.
Peter Marks, the chairman of nightclub operator Rekom UK, said sales were down 20% last week. The final weekend before Christmas, traditionally among the busiest, was “substantially down” due to the rail strike on Saturday.