UK economy uncertain despite unexpected growth in November

Services sector grew by 0.2% while the manufacturing fell by 0.5%

Valeria Martinez
clock • 2 min read

While figures from the Office for National Statistics (ONS) show unexpected economic growth in November, concerns around the stability of the British economy persist.

Following the slight 0.1% bounce back seen in October, UK gross domestic product (GDP) also grew by 0.1% in November. Economists polled by Reuters had forecast that GDP would drop by 0.2% in November. In output terms, the services sector grew by 0.2% while the manufacturing sector fell by 0.5%, while construction remained flat.  ONS director of economic statistics Darren Morgan said: "The economy grew a little in November with increases in telecommunications and computer programming helping push the economy forward. Pubs and bars also did well as people went out to watch the World Cup...

To continue reading this article...

Join Professional Adviser

  • 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 Economics / Markets

Inflation drops to 8.7% in April but remains above expectations

Inflation drops to 8.7% in April but remains above expectations

Latest Office for National Statistics data released

Professional Adviser
clock 24 May 2023 • 2 min read
Between 2009 and 2022, the Bank helped the Treasury earn more than £100bn in profit thanks to historically low interest rates.

BoE projects £100bn payment from Treasury to cover QE losses

Govt needs to pay almost £30bn a year in 2023, 2024 and 2025

Valeria Martinez
clock 03 May 2023 • 2 min read
Food and non-alcoholic drink prices were the key driver of inflation, rising by 19.2% in the year to March.

UK inflation dips to 10.1% in March but remains stubbornly high

Consensus expectations of 9.8% were not met

Valeria Martinez
clock 19 April 2023 • 2 min read