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The UK's gross domestic product is now bigger than it was before the coronavirus pandemic struck and wreaked havoc on the economy, following a strong bout of growth in November.
The country's GDP — the most common measure of the size of the economy — grew 0.9% in November month-on-month, the Office for National Statistics said Friday.
It was a much stronger reading than both the 0.4% expected by economists and October's 0.2% expansion.
The growth took UK GDP to 0.7% above where it stood in February 2020, just before coronavirus started ripping through the country and the government clamped down on economic activity.
However, November was the last month before the Omicron coronavirus variant took hold in the UK and prompted Downing Street to put in place new restrictions. Staff absences are expected to have weighed on growth in December and January.
November saw stronger-than-expected performances from both the construction and manufacturing sectors, which posted growth of 3.5% and 1.1% respectively. Retail also helped services expand relatively strongly.
The pound rose after the release of the figures, and was last up 0.2% against the dollar at $1.374. London's FTSE 100 stock index was down 0.41%.
Read more: Wall Street giants are divided on the best investment styles for this year, from growth versus value to large or small caps. Here's the breakdown, and their recommendations.
British Chancellor Rishi Sunak said: «It's amazing to see the size of the economy back to prepandemic levels in November — a testament to the grit and determination of the British people.»
The finance minister urged people to go out and get their booster shot, saying this would help the UK economy to continue to grow.
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