The damaging drag the re-imposition of Covid-19 curbs had on Brits’ confidence is easing, reveal official figures released today.
Britons rushed back to pubs, bars and restaurants in the immediate aftermath of Christmas and New Years in a sign that plan B’s blow to the UK services economy will disappear into the ether.
Consumers have picked up where they left off before the emergence of the Omicron variant and are again splashing the cash on socialising, according to the Office for National Statistics (ONS).
Social spending climbed around 30 percentage points over the first week of 2022, recovering sharply after it slumped to a nearly half of its pre-pandemic levels over the Christmas period.
Guidance to slash socialising and work from home announced in December throttled Brits’ confidence to head out to pubs, bars and restaurants like they normally do over the Christmas period, delivering a heavy blow to Britain’s hospitality industry.
However, spending is now roaring back as the spectre of Omicron over the UK is seemingly petering out.
Separate data released by the British Retail Consortium and KPMG this week revealed retail sales jumped 2.1 per cent over the last month and were actually over four per cent higher compared to pre-pandemic levels.