Britain's economy grew more quickly than previously thought in late 2021 but the increase was largely due to Covid-related activity in the health sector.Gross domestic product in the world's fifth-biggest economy increased by 1.3% in the fourth quarter, when the Omicron wave of coronavirus cases mounted, official data showed today.
While fourth-quarter growth pick-up represented an acceleration from the economy's 0.9% expansion in the third quarter, it was well below its 5.6% expansion in the April-June period when it was rebounding from Covid-19 lockdowns. The dip in the third quarter reflected the increased impact of inflation on household budgets and a downward revision of pension contributions, the Office for National Statistics said.
Samuel Tombs, an economist with Pantheon Macroeconomics, said the data showed companies were also struggling.