{"id":72957,"date":"2022-02-16T09:15:29","date_gmt":"2022-02-16T09:15:29","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72957"},"modified":"2022-02-16T09:15:32","modified_gmt":"2022-02-16T09:15:32","slug":"uk-economy-sees-surge-in-annual-growth","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/uk-economy-sees-surge-in-annual-growth\/","title":{"rendered":"UK economy sees surge in annual growth"},"content":{"rendered":"\n<p>On the back of a milder than anticipated hit during December, the UK economy can celebrate expanding at its fastest rate since the Second World War during 2021.<\/p>\n\n\n\n<p>Recording a 7.5% annual rate of expansion, the figure is the largest since 1941 \u2013 also making Britain the fastest growing advanced economy during the year as a whole. However, the cloud to accompany the silver lining was that the UK economy still remained smaller than in the fourth quarter of 2019 \u2013 immediately before the pandemic hit.<\/p>\n\n\n\n<p>                 <em>To find out more about how we can assist you with your <strong>Second Charge Mortgage<\/strong> please <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/contact-us\/\" target=\"_blank\">click here<\/a><\/em>                 <\/p>\n\n\n\n<p>The UK suffered a deeper pandemic-hit recession than most of its peers, contracting by 9.4% during 2020. However, its recovery has been bolstered by billions in government aid and now the economy is forecast to outperform all other Group of Seven nations again this year.<\/p>\n\n\n\n<p>The news is likely to impact the Bank of England\u2019s focus in recent months \u2013 it is expected to step up efforts to curb inflation, with more interest rate rises likely.<\/p>\n\n\n\n<p>Still, GDP dropped 0.2% in December with the Omicron variant keeping many consumers at home \u2013 however, this was below the 0.5% that had been forecasted. January is likely to be weak with Omicron restrictions extending into the New Year.<\/p>\n\n\n\n<p>Speaking to Bloomberg, Yael Selfin, chief economist at KPMG UK, noted the squeeze on household incomes from rising prices and tax rises would also impact economic activity in the coming months.<\/p>\n\n\n\n<p><em>By Paul Lucas<\/em><\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/www.mortgageintroducer.com\/uk-economy-sees-surge-in-annual-growth\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mortgage Introducer<\/a><\/p>\n\n\n\n<p>                 <em>Discover our <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/\" target=\"_blank\"><strong>Second Charge Mortgage Broker<\/strong><\/a> services.<\/em>                 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the back of a milder than anticipated hit during December, the UK economy can celebrate expanding at its fastest rate since the Second World War during 2021. Recording a 7.5% annual rate of expansion, the figure is the largest since 1941 \u2013 also making Britain the fastest growing advanced economy during the year as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1978],"tags":[2164,2075,2098],"yst_prominent_words":[488,113,1252,699,33,498,485,111],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK economy sees surge in annual growth - Second Charge Mortgage UK<\/title>\n<meta name=\"description\" content=\"On the back of a milder than anticipated hit during December, the UK economy can celebrate expanding at its fastest rate since the WW2 during 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/secondchargemortgageuk.com\/uk-economy-sees-surge-in-annual-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK economy sees surge in annual growth - 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