UK Economic Growth Slower Than First Thought

Date: 22 December 2021 - 21:39

News ID: ۹۸۰۷۰

LONDON (Dispatches) -The UK economy grew at a slower pace than first estimated between July and September, revised figures show.
The Office for National Statistics (ONS) said during the quarter before Omicron took hold, the economy grew by 1.1%, rather than 1.3%, as Britain emerged from lockdown.
It blamed weaker consumer spending, and the impact of energy companies going out of business.
The economy is now 1.5% smaller than it was before the coronavirus pandemic.
The data pre-dates the emergence of the Omicron variant of COVID, which is expected to be a further drag on growth.
Darren Morgan, director of economic statistics at the ONS, said: “Our revised figures show UK GDP (gross domestic product) recovered a little slower in the third quarter, with much weaker performances from health and hairdressers across the quarter, and the energy sector contracting more in September than we previously estimated.