UK GDP beats consensus forecasts but experts warn of bleak data for 2022

'Storm clouds' ahead

Lauren Mason
clock • 3 min read

UK GDP returned to pre-pandemic levels during the month of November following growth of 0.9%, according to the latest figures from the Office of National Statistics, although industry commentators warn that Omicron fears near the end of the month could feed through to December’s data.

The latest GDP data shows that November's growth surpassed that seen in February 2020 - before the pandemic - by 20 basis points. The data more than doubled consensus forecasts of 0.4% and increased nine-fold compared to October's GDP of 0.1%. This was driven by expansion in production at 1%, construction at 3.5% and services at 0.7%. Alan Custis, managing director and portfolio manager on the UK equity team at Lazard Asset Management, said the market will "already be looking through this strength" and weighing the impact that the UK Government's ‘Plan B' rule introductions will have had...

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

'It's been frantic – in a good way': Orbis' Matt Spencer on maintaining momentum

'It's been frantic – in a good way': Orbis' Matt Spencer on maintaining momentum

Advisers in the UK are ‘exceptionally high quality’

Jenna Brown
clock 25 November 2025 • 8 min read
Why 'bubble talk' doesn't always burst markets

Why 'bubble talk' doesn't always burst markets

What’s really driving recent returns?

Eleanor Ingilby
clock 20 November 2025 • 4 min read
Consultancy launches to provide IFAs with 'robust' investment processes

Consultancy launches to provide IFAs with 'robust' investment processes

Sheridan Admans launches Infundly

Isabel Baxter
clock 06 November 2025 • 1 min read