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

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

Making technology work better

Katrina Lloyd
clock 03 July 2025 • 9 min read
IFAs look to boost clients' private markets exposure

IFAs look to boost clients' private markets exposure

Expect increase in stock market volatility

Jen Frost
clock 02 July 2025 • 2 min read
Winds of change: Private markets access for retail investors

Winds of change: Private markets access for retail investors

Investing in LTAFs, accessibility aside, needs careful consideration

Dorian Hughes
clock 02 July 2025 • 5 min read