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

Partner Insight: Vanguard - why the euro area is proving less resilient than the US

Partner Insight: Vanguard - why the euro area is proving less resilient than the US

The euro area and US central banks have applied similar monetary policy tightening over the past 18 months with distinctly different results. We see three key reasons why

Shaan Raithatha - Senior Economist, Vanguard Europe
clock 27 November 2023 • 9 min read
Autumn Statement 23: UK growth forecasts face significant downgrade

Autumn Statement 23: UK growth forecasts face significant downgrade

Inflation set to fall to 2% in 2025

Elliot Gulliver-Needham
clock 22 November 2023 • 1 min read
Core inflation, which excludes energy, food, alcohol and tobacco, rose by 5.7%, down from 6.1% in September and its peak of 7.1% in May.

UK inflation sharply falls in October to 4.6% but pain not over yet

Official figures show inflation down from 6.7% in September

Elliot Gulliver-Needham
clock 15 November 2023 • 3 min read