The UK economy surpassed pre-Covid levels for the first time in November after recording stronger-than-expected growth. expanded by 0.9% between October and November.
"Construction also recovered from several weak months as many raw materials became easier to get hold of." GDP allows businesses to judge when to expand and hire more people, and for government to work out how much to tax and spend. Mr Tombs said data such as restaurant diner numbers, transport usage and cinema revenues "point to a pullback in consumer services expenditure" last month, while "Omicron also depressed labour supply".
Monthly figures are quite volatile though and usually not provided by other countries. It is possible that the Omicron-linked hit to the economy in December could undo the impressive growth in November on the key fourth quarter figure. Using this more usual and internationally comparable quarterly basis, it is still not certain if the UK economy has recovered these losses.
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