London, Europe Brief News – The official figure depicts that UK economy recovered 7.5% despite getting a massive hit in December because of Omicron restrictions.
The economy fell off in December with 0.2% as omicron restrictions strike the retail and hospitality sector.
The Office for National statistics (ONS) suggested that the overall growth during the last three months of 2021 was 1%. Darren Morgan, director of economic statistics described it as a pretty healthy growth despite omicron scare and restrictions.
The figures were healthier than predicted and even Morgan said on television that the expansion in 2021 described the UK as the rapidly growing economy in the G7 group of nations.
Mr Morgan said “The growth in 2021 comes from low base in 2020 when the economy fell sharply and if you look at where the UK economy is now, compared to its pre-pandemic level, the UK is middle of pack , compared with the G7”
He further added that if we look at the comparison sheet , the Canadian , US and French economies can be seen more than UK’s whereas the Uk economy was above Germany, Italy and Japan.
There are high chances that Downing Street would never miss a chance to boast about 2021. During its hosting at the G7, UK has been finalised as the most growing economy among these big nations.
UK economy hit all time high figures
Massive economic growth of 7.5% is considered to be the all time highest of the G7 major economies and that suggests an enormous recovery.
The ONS points to, should be seen alongside the sharpest fall of 9.4% for thr UK compared to those same economies in 2020.
Still, if we make international comparisons with major countries , the UK economy is a bit on the lower side than it was at the end of December 2019 unlike US, Canada and France.
Mr Sunak told the BBC “Today figures show that despite omicron the economy was remarkably resilient, we were the fastest growing economy in the G7 last year and are forecast to continue being the fastest growing economy of this year”
According to several reports, the growth was immensely great during last year since the ONS record started in 1948. The collapse of 9.4% was the biggest fall since 1919.
