The UK economy soared by record levels in 2021 as gross domestic product (GDP) rebounded by 7.5%, according to official figures.
The growth, which exceeded projections by the Bank of England, was the fastest since ONS records began in 1948 but nevertheless came after a record 9.4% slump in the economy in 2020.
New data from the Office for National Statistics (ONS) also showed that the economy grew by 1% in the final three months of the year, despite the impact of the spread of the Omicron variant of Covid-19.
The economy contracted by 0.2% in December as the hospitality and leisure sector felt the brunt of Omicron and related Government restrictions.
However, the economy remained at pre-pandemic levels from February 2020
ONS director of economic statistics Darren Morgan said: “GDP fell back slightly in December as the Omicron wave hit, with retail and hospitality seeing the biggest impacts.
“However, these were partially offset by increases in the Test and Trace service and vaccination programmes.
“Despite December’s setback, GDP grew robustly across the fourth quarter as a…