Britain’s economy is beginning 2022 on the back foot as record numbers of coronavirus infections and tougher restrictions driven by the Omicron variant cloud the outlook for growth.
It comes after a weaker pace of growth at the end of last year as businesses and households come under mounting pressure from rising energy bills pushing up inflation, as well as shortages of workers and materials. Here are five charts for the UK’s economic prospects in 2022.
GDP
Economic activity has slumped since the emergence of the coronavirus Omicron variant, with people choosing to be cautious due to high infection rates and renewed government restrictions weighing on growth. Economists warn a sustained hit would lead gross domestic product (GDP) to fall in the first few months of 2022.