Significant increase in Timeouts in past month

We’ve seen a significant issues in Timeouts in the past month (since about 6/7 Dec) when calling the API. Note that these are genuine timeouts rather than 429 throttling. Is this a known problem, and other than retrying is there a recommended approach to handling them?

Sorry for such a late reply. This post had slipped through the net.
Regrettably, we did experience a lot of system issues during Dec and the beginning of Jan for a number of reasons, but we have taken steps to resolve most of these and have plans in place to resolve the others in the coming weeks.