LONDON — The British economy grew 7.5% in 2021, official figures revealed Friday, rebounding from its historic 9.4% plunge in 2020 when pandemic restrictions stifled activity.

On a quarterly basis, U.K GDP (gross domestic product) is estimated to have increased by 1% in the final three months of the year. It follows a downwardly revised 1% increase the previous quarter, the Office for National Statistics said on Friday.

In December, GDP contracted by 0.2% as the omicron Covid-19 variant forced renewed caution and containment measures, though economists polled by Reuters had expected a more severe 0.6% contraction.

This is a breaking story and will be updated shortly.

Source link

Check Also

Award-winning journalist says Philippines shutting down critical news site : NPR

Maria Ressa announced in a speech in Hawaii, Tuesday, June 28, 2022, that the Philippine g…