UK economy posts strongest growth since Second World War

Good early morning.

You will find some (a great deal-needed) constructive information to kick off your Friday, soon after the most recent GDP figures showed the British isles economy posted its strongest expansion because the Next Environment War final 12 months.

GDP grew 7.5computer in 2021 – the most significant increase in 80 years. It also means Britain has pulled ahead of other important economies in the publish-pandemic rebound.

When the economic climate contracted .2computer system in December as a final result of omicron, this was a significantly less intense strike than had been expected. For the fourth quarter, GDP grew 1laptop.

5 matters to start out your day 

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

2) Britain to import 70pc of fuel as North Sea reserves run dry  Reliance on foreign fuel will increase refreshing issues over country’s strategic independence 

3) Andrew Bailey assaults Brussels around plans to minimize Metropolis off from European banks  Lender of England governor states these a transfer would ‘fragment global system’

4) AstraZeneca prepared to tweak Covid vaccine as it at last draws a profit  Pharma large doing work with Oxford University to tackle new variants

5) Credit history Suisse ‘failed to freeze cocaine-smuggling wrestler’s lender account’  Accusation from previous staff will come as financial institution reveals £1.6bn reduction

What happened overnight 

Asian marketplaces fell on Friday right after a provide-off on Wall Road in response to a forecast-busting leap in US inflation that fanned anticipations the Federal Reserve will embark on a extra aggressive campaign of monetary tightening. Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei, Manila and Jakarta all fell into the pink, even though Singapore inched up. Tokyo was closed for a holiday.

Coming up these days

Corporate: British American Tobacco (Full-yr results) Lancashire Holdings, Tate & Lyle, Victrex (Interims) Electrocomponents (Investing update)

Economics: GDP (British isles), industrial generation (Uk), producing creation (United kingdom), trade stability (Uk), consumer price tag index (Ger), Michigan Client Sentiment Index (US), Fed financial policy report (US)