Economic output exceeded pre-pandemic levels for the first time in November, fuelled by strong growth in construction before the Omicron variant took hold.
Gross domestic product (GDP) rose by 0.9 per cent, which is more than double the 0.4 per cent rise predicted by economists. Growth comfortably rose above the 0.2 per cent recorded in February 2020 before the pandemic and in October 2021.
The statistics confirm that the economy had gained momentum before the new variant emerged in November. Economic activity is expected to have taken a hit after restrictions on international travel were reimposed and a work-from-home order reissued to all those who can carry out their work remotely as part of the government’s Plan B to curb infections in early December.