(ONS) UK gross domestic product improved by 0.8% in January, erasing a decline of 2% in December, to remain 0.8% above the levels in February 2020.
All of the sectors in the UK posted increases in output, with construction up by 1.1%. Services increased by 0.8%, while production output was up by 0.7%.
Consumer-facing services output expanded by 1.7% in January, led by a 6.8% uptick in food and beverage activities.
Many sectors returned to the pre-pandemic output level, with services up 1.3%, while construction remained 1.4% above. Production was still 2.0% below the pre-pandemic level.
Over a three-month period, UK GDP expanded by 1.1% in January 2022, with services the main contributor to the growth with a 0.8% uptick.FTSE 100 is up +0.92%, GBPUSD is down -0.21%.
