The British Chambers of Commerce (BCC) today publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private sector business survey.
BCC: Stronger GDP growth in November unlikely to be sustained
Commenting on the latest ONS GDP figures for November 2021, published today, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:
“The latest figures confirmed a significant uptick in growth in November, before the emergence of Omicron and the implementation of Plan B.
“Higher growth in services was the main driver in lifting overall economic output above pre-covid levels, amid a notable pick-up in health and retail activity. Although construction enjoyed a strong November, with supply chain disruption persisting, the near-term outlook for the sector remains challenging.
“Stronger growth in November is likely to be followed by a modest fall in output in December and January, as consumer caution to socialise and spend, and mounting staff absences sparked by Omicron and Plan B limit activity.
“While the UK economy should rebound once Plan B measures are lifted, surging inflation and persistent supply chain disruption may mean that the UK’s economic growth prospects remain under pressure for much of 2022.
“The Government must do all it can to support the economy through this challenging period. If the current restrictions persist or are tightened further then a more comprehensive support package that matches the scale of any new measures, will need to be put in place.”
The full ONS data on GDP can be found here.