UK economy rebounds stronger than expected in November

UK economy rebounds stronger than expected in November

The Office for National Statistics said GDP increased 0.3% from October, beating an analyst consensus forecast for growth of 0.1%.

The UK’s November growth data, the first major economic indicator this year, arrives ahead of next week’s unemployment and inflation figures. (EPA Images pic)
LONDON:
Britain’s economy grew more than expected in November, official data showed Thursday, handing a boost to the Labour government after recent weak figures.

Gross domestic product increased 0.3% from the previous month, the Office for National Statistics said, beating an analyst consensus forecast for growth of 0.1%.

GDP had fallen 0.1% in October, the ONS confirmed, adding that September saw slight growth after it had initially reported a contraction for that month.

The September-November period was “led by growth in the services sector”, said Liz McKeown, director of economic statistics at the ONS.

A Treasury spokesperson said in a separate statement there was “more to do” for boosting growth and “keeping inflation low and stable, tackling the cost of living and bringing our borrowing costs down”.

The November growth figures, the first major official reading on the UK economy since the start of the year, came ahead of unemployment and inflation figures due next week.

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