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UK economy returns to growth in November after surprise contraction

Britain's economy returned to growth in November following an unexpected contraction over the previous month.

According to the Office for National Statistics, gross domestic product is estimated to have grown by 0.1% in November, after October’s surprise 0.1% contraction.

Services and construction output grew by 0.1% and 0.4% respectively, while the production sector contracted by 0.4% during the month.

GDP remained unchanged over the three months to November, while the economy grew by 1.0% year on year.

Expectations had been for growth of 0.2% in November, 1.3% on an annual basis and an unchanged reading for the three months.

“The economy continues to be broadly flat, having grown slightly in November following two small falls in the previous months," ONS economic statistics director Liz McKeown said.

“Services grew a little, with wholesaling, pubs & restaurants and IT companies all doing well, partially offset by falls in accountancy and business rental & leasing.

“Construction also grew, led by new commercial developments, while production continued to decline in November with further falls across a range of manufacturing industries and oil & gas extraction companies.”

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