GDP in the UK has come in above economists` expectations at 0.9% in November 2021, well ahead of the consensus 0.4% figure. This leaves the UK economy larger than before the Pandemic in the month just before the Omicron variant begun to sweep through the nation. Factors at play were early spending in the lead up to Christmas and increased spending on restaurant bookings. Production, Services and Construction all saw growth in the period, and notably Construction had recovered from a long string of lacklustre months dating back to April 2021. It is expected that due to restrictions surrounding the Omicron variant that were introduced, December's figure will be more muted. Markets remain stable in wake of the release, despite this milestone being reached.
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UK inflation jumps to highest level in 30 years
UK inflation jumps to highest level in 30 years