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UK economy shrank by less than expected in December

by News Wires
February 12, 2022
in Business
Britain's economy shrank by 0.2% in December when the rapid spread of the Omicron variant of COVID-19 prompted many Britons to work from home and avoid their usual Christmas socialising which hit many services businesses.

Britain's economy shrank by 0.2% in December when the rapid spread of the Omicron variant of COVID-19 prompted many Britons to work from home and avoid their usual Christmas socialising which hit many services businesses.

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LONDON – Britain’s economy shrank by 0.2% in December when the rapid spread of the Omicron variant of COVID-19 prompted many Britons to work from home and avoid their usual Christmas socialising which hit many services businesses.

Gross domestic product in December was 6.0% higher than a year earlier, the Office for National Statistics said according to Reuters.

Economists polled by Reuters had forecast a 0.6% monthly fall in GDP and for output to be 6.3% higher than a year earlier.

 

Tags: BUSINESSEconomyOmicronUK

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