UK GDP bounced back 0.8% in January, higher than economists had predicted, with food and drink services posting a strong recovery and rebounding 6.8% following a 8.1% decline in December.
GDP had pulled back 0.2% in the last month of 2021 as the Omicron variant hit the nation, however the January figures have now reached GDP 0.8% above pre-coronavirus levels. All sectors contributed positively to growth in the month, with services the main driver contributing 0.6 percentage points and production and construction contributing 0.1 percentage point each. Human health and social work activities were said to be the main drivers of growth while the negative drivers were other service activities and real estate activities. US inflation hits fresh 40 year high of 7.9% ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
