In November 2021, the British economy experienced higher-than-expected growth, allowing it to grow more than it did before the first shutdown following the outbreak of the coronavirus pandemic, Reuters reports.
Data from the Office for National Statistics (ONS), released on Friday, shows that Britain’s gross domestic product rose 0.9% in November. on a monthly basis with a forecast of 0.4 percent. October data was revised up from 0.1% to 0.2%.
Thus, as confirmed by the Office for National Statistics, the world’s fifth largest economy was 0.2%. larger than it was in February 2020 before the first lockdown of the epidemic.
On a quarterly basis, November’s GDP (calculated as the sum of the previous three months) increased 1.1%. It also exceeded expectations (0.8%) and October dynamics (0.9%).
The situation is similar in the annual comparison until November 2020. In this case, the economic growth rate rose to 8%. With a forecast of 7.5 per cent. and 5.1% OCT dynamics after a correction of 4.6%.
The novel coronavirus variant and associated tides are expected to weaken the UK economy in December and will likely translate into January results as well. However, the strike should not be too severe, which would allow the Bank of England to continue to tighten monetary policy.
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