FOOTBALL fans helped to prop up the struggling economy by sinking pints during the World Cup.

Unexpected growth of 0.1 per cent was recorded in November as drinkers watched group games in packed pubs and bars.

Football fans watching the World Cup helped to boost the UK economy

2

Football fans watching the World Cup helped to boost the UK economyCredit: Reuters
Chancellor Jeremy Hunt says the Government plans to 'halve inflation'

2

Chancellor Jeremy Hunt says the Government plans to ‘halve inflation’Credit: Reuters

Early pre-Christmas purchases of video games also reduced the chance of the country entering into a recession.

Analysts predicted the economy would shrink by 0.3 per cent for the month.

Economist Simon French, of Panmure Gordon, said: “This shows the economy is more resilient than we thought.”

Kate Nicholls, boss of UK Hospitality, last night said the figures “underline the importance of hospitality in driving economic growth and recovery” but blasted strike action for impacting business.

The damage Liz Truss did to the economy may not be as bad as everyone thought
Liz Truss' spell as PM 'cost the economy £1.5bn in lost growth a day'

She added: “The World Cup provided a significant boost in November, with pubs and bars reporting sales up 30-40% on matchdays.

“This once again shows the power of big sporting events, even in the winter, and the important role our venues play in bringing communities together.”

“However, the figures also highlight the impact strike action had on the sector and the cost of lost sales is likely to be set out more starkly in next month’s figures.”

November’s GDP figures may signify that the economy will avoid a technical recession which is defined as two consecutive quarterly contractions.

Most read in Money

Meanwhile, Chancellor Jeremy Hunt yesterday said the Government had “a clear plan to halve inflation this year”.

This post first appeared on thesun.co.uk

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Big change to bill rise rules for millions – and it can save you money

MILLIONS of households could benefit from a huge change to bill rules…

Fidelity Japan trust: ‘There’s been an explosion in entrepreneurship’

Investment house Fidelity International is convinced it pays to have fund managers…

Why the Bank of England held rates and when could they fall?

The Bank of England held base rate at 5.25 per cent on…

McDonald’s is axing 4 items from its menu next week – and fans are heartbroken

MCDONALD’S fans are gutted after the fast food chain reminded customers that…