UK economy rebounced by 7.5% in 2021; US consumer sentiment hit by inflation surge – as it happened

Rolling coverage of the latest economic and financial news

• US consumer sentiment at 10-year low
• Analysis: the UK still faces big economic challenges
• Latest: UK economy grew 7.5% in 2021
• Fastest growth in G7 last year after 2020 slump...
• ...but middle of the G7 pack for pandemic recovery
• Warning that 2022 will be tough
• UK economy shrank 0.2% in December...but grew 1% across Q4

Chancellor of the Exchequer, Rishi Sunak says the UK economy has been remarkably resilient':

Thanks to our 400bn package of support and making the right calls at the right time, the economy has been remarkably resilient; with the UK seeing the fastest growth in the G7 last year and GDP remaining at pre-pandemic levels in December.

I'm proud of the resolve the whole country has demonstrated, and proud of our incredible vaccine programme which has allowed the economy to stay open.