The British economy grew much stronger than expected in November (by 0.9%), and was higher than the level before the pandemic, said the statistical service ONS.
The fifth largest economy in the world was 0.7% larger than it was in February 2020, the ONS said.
Economists polled by Reuters forecast monthly GDP growth of 0.4% in November.
Despite GDP growth in November, GDP was likely to be hit in December with the emergence of Omicron, and the momentum loss is likely to have been exposed in January, with many companies reporting severe staff shortages and consumers still wary. to get out.
However, health officials say the Omicron wave has now peaked in Britain, and economists estimate that the blow to the economy will be short-lived, allowing the Bank of England to continue raising interest rates.
The ONS stressed that in addition to the data revisions, quarterly GDP would have reached or exceeded the pre-coronary level in October-December last year, provided that economic output did not fall by more than 0.2% in December.
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Source From: Capital
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