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Tuesday, January 11, 2022

Damage To Hospitality Negatively Impacted Growth in December 2021

Andrew Goodwin, chief UK economist at Oxford Economics, is quoted by the FT:

“The damage to the services sector from the resurgence in Covid means it’s likely that GDP fell in December and will struggle to grow much in early 2022, creating a weak starting point for expansion this year.

Experience of previous virus waves suggests that the subsequent rebound is likely to be strong,” 

The problem facing the economy in 2022 (assuming that the hospitality sector can recover) is that of the rising cost of living which will make itself known from April onwards.

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