0.3% GDP growth fails to alleviate 'precarious' economic situation

'An appropriately diversified portfolio is the best approach'

clock • 2 min read

UK GDP grew 0.3% in November 2023 - growth which has not staved off concerns that the nation is in a tenuous economic state.

The latest Office for National Statistics data shows the UK services sector provided the majority of the growth for the month, with services output up 0.4%, following a 0.1% fall the previous month. Production output also reverse its contraction in October and grew by 0.3% in November. Economists had forecast 0.2% growth for the period, putting the data above expectations. The overall GDP growth was a reverse of the 0.3% contraction seen in October, making UK growth flat over the two consecutive periods. Despite this uplift to growth it still "leaves an awful lot of pressure on ...

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 Markets

Market Movers: New govt should make UK equities 'attractive'

Market Movers: New govt should make UK equities 'attractive'

‘Government’s priority should be to make UK equities more attractive’

Professional Adviser
clock 05 July 2024 • 1 min read
Bank of England holds rates at 5.25% in final pre-election decision

Bank of England holds rates at 5.25% in final pre-election decision

'The MPC would not want to be perceived as politicking'

Cristian Angeloni
clock 20 June 2024 • 1 min read
Inflation officially back to Bank of England's target level of 2%

Inflation officially back to Bank of England's target level of 2%

Data shows a 2% year-on-year fall ‘in line with consensus expectations’

Hope Coumbe
clock 19 June 2024 • 2 min read