UK economy sees worst growth since 2012

Annual growth of 0.6% weakest for more than seven years

clock • 3 min read

The UK economy grew at its slowest rate since 2012 in November, meaning an interest rate cut from the Bank of England (BoE) could be on the cards soon.

UK GDP grew at 0.6% in the 12 months to November, the Office for National Statistics said today (13 January), down from 1% in October, representing the slowest annual growth rate for more than seven years. The figures come after Monetary Policy Committee member Gertjan Vlieghe told the Financial Times he would "need to see an imminent and significant improvement in the UK data to justify waiting a little longer" to cut rates. Sterling continued its decline on the news, with a 0.6% decline on Monday (13 January) seeing the currency drop below $1.30 once more. That buoyed the stockmarke...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

FCA issues fresh warning on high-risk investments from unregulated firms

FCA issues fresh warning on high-risk investments from unregulated firms

Regulator rings alarm bell on unlisted loan notes and mini-bonds

Cristian Angeloni
clock 26 September 2025 • 2 min read
Number of wealth and asset management firms predicted to drop by 20% in five years

Number of wealth and asset management firms predicted to drop by 20% in five years

Oliver Wyman and Morgan Stanley research suggests

Beth Brearley
clock 26 September 2025 • 2 min read
Retail investor demand for crypto grows as FCA looks to lift ETP ban

Retail investor demand for crypto grows as FCA looks to lift ETP ban

Retail investors see cryto as a long-term investment opportunity

Cristian Angeloni
clock 25 September 2025 • 2 min read