Brexit triumph as UK GDP shows unexpected SURGE in 2022


But it is not all good news. While growth looked likely to continue into February, economists warned of tougher times ahead.

Paul Dales, the chief UK economist at the consultancy Capital Economics, warned that the latest figures are probably going to be “as good as it gets for this year”.

He said: “The hit to households’ real disposable incomes from the surge in energy prices, the latest chunk of which is due to the war in Ukraine, and higher taxes will start to be felt from March and April.

“As such, GDP growth will probably slow throughout the year.”

And Suren Thiru, head of economics at the British Chambers of Commerce, said: “The figures have been pushed into the rear-view mirror by renewed domestic and global shocks, including Ukraine.

“The UK’s economy could stall in the near term as rising inflation, soaring energy bills and higher taxes increasingly drag on activity, despite a probable boost to output in February from the end of Plan B Covid restrictions.”


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