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UK GDP shows growth and then stagflation
This morning has brought us up to date on the state of play in the UK economy and we can start with some good news. UK gross domestic product (GDP) is estimated to have increased by 0.8% in Quarter 1 (Jan to Mar) 2022, and by 8.7% compared with Quarter 1 2021. That continues with this. The level of quarterly GDP in Quarter 1 2022 is now 0.7% above its pre-coronavirus level (Quarter 4 (Oct to Dec) 2019). In terms of the quarterly growth that compares with 0.2% in the Euro area and -0.35% in the United States.We do not have the figures for Japan yet but it could easily be another contraction. So in international terms ... (full story)