Ex. 3.12. Study the graph of economic output in the UK:

 

(From: Chris Rh (2018). Retail sector in the UK .http://www.parliament.uk/commons-library)

 

Speak about the economic output of the retail sector (in terms of Gross Value Added, GVA, which is similar to GDP)

Follow the notes:

“ In 2017 it was £92.8 billion, which was _____ of the UK’s total GVA. Over the past ten years, the retail sector’s economic output _____ .   The retail sector saw a fall in economic output and then _____ following the financial crisis and subsequent recession of 2008, until late _____. In 2013, the sector began to _____ and grew strongly from _____. The retail sector _____ in 2017-2018.”