UK economy posts strongest growth since Second World War

Good morning.

There is certainly some (much-needed) constructive info to kick off your Friday, after the most up-to-date GDP figures confirmed the United kingdom financial system posted its strongest development given that the 2nd Environment War last year.

GDP grew 7.5personal computer in 2021 – the most important rise in 80 a long time. It also signifies Britain has pulled ahead of other big economies in the publish-pandemic rebound.

Though the overall economy contracted .2computer system in December as a consequence of omicron, this was a significantly less critical strike than had been predicted. For the fourth quarter, GDP grew 1pc.

5 items to start off your day 

1) Taxman ‘rolled over’ on £4bn Covid loans fraud, say MPs  HMRC’s attempts to claw back stolen taxpayer money dubbed ‘unambitious’ 

2) Britain to import 70personal computer of fuel as North Sea reserves run dry  Reliance on overseas fuel will increase fresh issues around country’s strategic independence 

3) Andrew Bailey attacks Brussels around strategies to lower Town off from European banks  Bank of England governor states these a shift would ‘fragment global system’

4) AstraZeneca completely ready to tweak Covid vaccine as it finally draws a profit  Pharma big doing the job with Oxford University to tackle new variants

5) Credit rating Suisse ‘failed to freeze cocaine-smuggling wrestler’s bank account’  Accusation from previous staff arrives as financial institution reveals £1.6bn decline

What occurred overnight 

Asian marketplaces fell on Friday soon after a provide-off on Wall Street in reaction to a forecast-busting jump in US inflation that fanned anticipations the Federal Reserve will embark on a additional intense marketing campaign of financial tightening. Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei, Manila and Jakarta all fell into the purple, even though Singapore inched up. Tokyo was closed for a holiday break.

Coming up currently

Company: British American Tobacco (Entire-year benefits) Lancashire Holdings, Tate & Lyle, Victrex (Interims) Electrocomponents (Trading update)

Economics: GDP (British isles), industrial production (British isles), producing generation (British isles), trade equilibrium (British isles), consumer price index (Ger), Michigan Buyer Sentiment Index (US), Fed monetary policy report (US)