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UK economy returns to growth in November
Summary
ONS data show the UK economy rose 0.3% in November, and revised figures put growth at 0.1% for the three months to November, driven by services and a phased manufacturing restart.
Content
Official Office for National Statistics figures show the UK economy expanded by 0.3% in November. Revised earlier data mean the three months to November grew by 0.1%. The increase reflected stronger services activity and a phased restart of manufacturing after a cyber incident at a Jaguar Land Rover plant. These figures arrived amid uncertainty around the late Autumn Budget.
Key facts:
- The ONS reported GDP rose 0.3% in November and the three-month change to November was 0.1% after revisions.
- Consumer-facing services output increased by 0.5% in the quarter to November, with travel agents and tour operators recording the largest gains; retail trade and sport or recreation services also picked up.
- Manufacturing showed a fall over the three-month period, which was affected by a cyber incident that reduced car production earlier in the autumn, though monthly data indicate manufacturing has largely recovered.
- Construction contracted again, marking its largest three-month decline in nearly three years.
- Commentators noted early December indicators pointed to weaker trading, including softer jobs signals, subdued card spending and fragile business sentiment.
Summary:
The November rise offers a modest upward revision to recent GDP trends and provides some relief for policymakers and service-sector firms. Weakness in construction and the earlier manufacturing disruption remain evident, and early indicators for December point to softer activity, leaving near-term prospects uncertain.
