UK Economy Grew By 7.5% Despite Omicron Variant Hit

YORK, ENGLAND - JANUARY 13: A lady wearing a mask walks past a sale sign displayed in The Works shop window on January 13, 2022 in York, England. (Photo by Nathan Stirk/Getty Images)

The UK economy grew by 7.5 per cent last year following the easing of pandemic restrictions.

The rebound, which exceeded projections by the Bank of England, came after a 9.4 per cent slump in the economy in 2020.

New data from the Office for National Statistics (ONS) also showed that the economy grew by 1 per cent in the final three months of the year, despite the impact of the spread of the Omicron variant of Covid-19.

However, it contracted by 0.2 per cent in December as the hospitality and leisure sector felt the brunt of Omicron and related Government restrictions.

The economy is now at the level it was in February 2020, before the pandemic.

GDP in the October to December quarter was still 0.4 per cent below the pre-coronavirus levels of the final three months of 2019.

 

x
scroll to top