HeyNew figures released today suggest the increase, compared to a 0.3% fall in October 2023, was driven by the services sector, which rose 0.4% during the month, while expectations remain that the country could enter a recession later this year.
This value exceeded analysts' expectations, which expected GDP growth of 0.2%.
ONS director Grant Fitzner commented: “The economy contracted somewhat in the three months to November, by 0.2%, with widespread declines in manufacturing, partly offset by increases in public services, resulting in less impact from strikes.” “.
However, GDP “bounced back in November, led by the services sector, as retailers, car rental companies and video game companies recorded a dynamic month.”
“The long-term outlook remains an economy that showed very little growth last year,” the expert noted.
Read also: Economy with a positive balance of 2.8% in the year ending in the third quarter
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Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
