UK economy above pre-Covid levels in November

The UK economy surpassed pre-Covid levels for the first time in November after recording stronger-than-expected growth.

 

The Office for National Statistics said gross domestic product (GDP) expanded by 0.9% between October and November.

 

That was higher than economists’ expectations and meant the economy was 0.7% larger than in February 2020.

 

But there is concern growth slowed again after the spread of Omicron and the introduction of Plan B measures.

 

“The economy grew strongly in the month before Omicron struck, with architects, retailers, couriers and accountants having a bumper month,” said ONS chief economist Grant Fitzner.

 

“Construction also recovered from several weak months as many raw materials became easier to get hold of.”

 

Analysts at Capital Economics said the economy was boosted by 3.5% growth in the construction sector, adding “the unusually dry weather probably helped”.

 

It also said manufacturing output also improved and the professional sector also picked up, “apparently due to architectural and engineering activities being brought forward from December”.

Leave a Reply