UK GDP expanded by 0.3% in the three months to November, down from 0.4% in the three months to October and the weakest growth in six months.
According to the Office for National Statistics (ONS), on a monthly basis GDP increased by 0.2% in November, up from 0.1% in October. The increase in monthly growth was driven by construction, which expanded by 0.6% and services, which increased 0.3% mainly due to retail sales following a boost from Black Friday. Meanwhile, UK manufacturing fell for a fifth straight month in November, contracting 0.3%, the longest losing run since the 2008/9 Global Financial Crisis. Rob Kent-Smith, head of national accounts at ONS, commented: "Growth in the UK economy continued to slow in the three...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes