It may be a little premature to bring out the bunting but, nevertheless, the UK economy is finally bigger than it was before the onset of the Covid crisis. The Office for National Statistics proudly announced on Friday that “gross domestic product… is above its pre-coronavirus pandemic level for the first time, by 0.7 per cent”.
Impressive stuff, particularly when other countries have failed to follow suit. Germany, for example, is still languishing, held back in part by its dependency on a manufacturing sector which has proved particularly vulnerable to the worldwide shortage of semiconductors.
