12.01.202406:33:00UTC+00UK GDP Recovers In November

The UK economy recovered as expected in November underpinned by services and production, the Office for National Statistics said on Friday.

Real gross domestic product expanded 0.3 percent in November, offsetting the 0.3 percent decrease in October.

In November, output in services output advanced 0.4 percent, which was the largest contributor to the growth. Production output was up 0.3 percent, while construction output fell 0.2 percent.

In the three months to November, GDP dropped 0.2 percent from the preceding period.

Services showed no growth, production output fell 1.5 percent and construction contracted 0.6 percent over the same period.

Another data from the ONS showed that the total trade in goods and services deficit widened slightly by GBP 0.4 billion to GBP 9.3 billion in the three months to November. The deficit was broadly stable throughout much of 2023.