UK economy bigger than before pandemic, before Omicron hit growth – business live | Business
3.59am EST
03:59
It’s encouraging that all major sectors of the UK economy grew in November, as Thomas Pugh, UK Economist at RSM explains:
The services sector grew by 0.7% m/m, boosted by stronger retail sales as consumers brought forward some Christmas shopping. But output in consumer-facing services are still 5.0% below their pre-coronavirus levels.
The 1.1% jump in manufacturing output suggests that the easing of supply shortages, especially in the automotive manufacturing sector, which has been evident in some of the survey data recently is filtering through into higher output.
Finally, construction output soared, growing by 3.5% m/m as an unusually dry…
