Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK GDP expanded by 1.0% in Q4 2021, slightly worse than that predicted 1.1% gain, with the December contraction of 0.2% more shallow than feared, data released by the Office for National Statistics showed Friday. That left GDP 0.4% below pre-pandemic levels.
Consumer spending rose by 1.2% in the closing months of the year, adding 0.69 percentage points to GDP. Government spending rose by 1.9%, while business investment rose by 0.9% in the quarter, but rose 0.8% on the year. Business investment remains 10.4% below pre-pandemic levels.
On the output side, services rose by 1.2%, despite a 0.5% decline in December (mostly dampened by weakness in retail trade). Services accounted for just under a percentage point of total growth, lifted by a resumption of GP visits and an extension of test and trace and vaccination programmes.
For the 2021 calendar year, GDP rose by 7.5%, countering at 9.4% plunged in 2020. It was the strongest growth since ONS records began in 1948 and the strongest data since 1941 using Bank of England data.
Source: ONS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.