UK economy grew by 0.1 per cent in November

The UK‘s economy grew by 0.1 per cent between October and November.

The Office for National Statistics (ONS) recorded a slowdown in growth after a 0.5 per cent increase in the previous month.

Analysts had predicted the economy would shrink by 0.3 per cent for November.

ONS director of economic statistics Darren Morgan said pubs and bars were among strong performers as people flocked to watch World Cup games.

“The economy grew a little in November, with increases in telecommunications and computer programming helping to push the economy forward,” Mr Morgan said.

“This was partially offset by further falls in some manufacturing industries, including the often-erratic pharmaceutical industry, as well as falls in transport and postal, partially due to the impact of strikes.

“Over the last three months, however, the economy still shrank – mainly due to the impact of the extra bank holiday for the funeral of Her Majesty Queen Elizabeth in September.”

Output in consumer-facing services grew by 0.4 per cent in November 2022, following growth of 1.5 per cent (revised up from a growth of 1.2 per cent in our previous publication) in October 2022.

Production output decreased by 0.2 per cent in November 2022, after a fall of 0.1 per cent (revised down from flat in our previous publication) in October 2022 while manufacturing was the main driver of negative production growth in November 2022, partially offset by a positive contribution from mining and quarrying.

Britain’s labour market remains tight, with many workers having taken early retirement and companies struggling to hire staff to fill vacancies.

Another quarter of economic decline would put the economy into recession for the first time since the pandemic.

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