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Evening Standard
Evening Standard
Business
City Staff

FTSE 100 Live: UK economy grows 7.5% in 2021 despite Omicron hit, US facing big rates hike

The UK economy grew 7.5% last year as disruption from the Omicron variant dealt a smaller-than-expected blow to activity in December.

New GDP figures from the Office for National Statistics show output fell by 0.2% in December, better than the City's 0.6% forecast and leaving the economy in line with its pre-pandemic level.

The fourth quarter performance was 1% higher while 2021 overall showed expansion of 7.5%, a significant rebound after the UK suffered the largest fall of all major economies in 2020.

Read more on the GDP release

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