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The UK economy has returned to growth as the economic damage caused by the Omicron variant faded.
UK GDP grew by 0.8% in January, faster than economists expected, after contracting 0.2% in December when ‘Plan B’ restrictions were introduced after the fast-spreading Covid-19 variant emerged.
New figures from the Office for National Statistics show that every sector grew in January, with services up 0.8%, production up 0.7% and construction up by 1.1%.
Customer-facing services companies saw a strong pick-up. The food and drink sector grew 6.8% in January, after the festive season was badly disrupted as parties were cancelled and more people worked from home in December.
Office for National Statistics (ONS)
GDP grew 0.8% in January and is now 0.8% above its pre-pandemic peak.