UK economic recovery already slowed pre-Omicron: data

LONDON: Britain’s economic growth recovery slowed in October, official data showed on Friday, even before the appearance of the Omicron coronavirus variant that has pushed the UK government to restore restrictions.

Gross domestic product increased 0.1 per cent in October compared with output of 0.6 per cent the previous month, the Office for National Statistics said in a statement.

In response, finance minister Rishi Sunak said the government had “always acknowledged there could be bumps on our road to recovery”.

The government of Prime Minister Boris Johnson will from Monday tighten virus restrictions in England as Omicron cases surge, including guidance to work from home and mandatory Covid passports.

“Last month it looked as though the UK was on track to return to pre-pandemic levels of GDP by the first quarter of 2022,” said Victoria Scholar, head of investment at Interactive Investor.

“However, the dark cloud of Omicron now threatens the recovery as the government introduces tighter restrictions.”

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