Britain’s economy records faster-than-expected growth in the fourth quarter of 2021

Britain’s economy grew more than expected in the last three months of 2021, when a wave of Omicron infections hit the country.

The Office for National Statistics said gross domestic product in the world’s fifth-largest economy rose 1.3 percent in the fourth quarter of last year compared to the previous three months, exceeding a preliminary estimate of 1% growth.

And the country’s economy grew in the fourth quarter on an annual basis by 6.6%, while expectations were indicating a growth of 6.5%.

It is noteworthy that the Bank of England raised interest rates to 0.75% from 0.5%, in line with expectations on March 17.