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CBI responds to latest GDP data

CBI recently (14 January 2021) responded to latest GDP data.

Alpesh Paleja, CBI Lead Economist, recently said:

“While it’s good that economic growth picked up in November, the data has been overtaken by events. Activity is very likely to have taken a hit in December, as the spread of the Omicron variant and subsequent restrictions disrupted operations in certain sectors.

“As we kick off the new year, the near-term outlook is also clouded by additional challenges: shortages of labour – exacerbated by sickness absence, supply chain disruption and a cost of living crunch for households.

“Implementing Plan B in December was the right thing to do, but with Covid clearly here to stay, the Government must now act to prevent the need for further restrictions on activity. This includes providing clearer forward guidance to support business adaptation, prioritising mass-testing over mass self-isolation, and ensuring that travel controls are proportionate so that the UK remains open to the rest of the world.”

 

Original article link: https://www.cbi.org.uk/media-centre/articles/cbi-responds-to-latest-gdp-data-1/

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