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UK economy grew by 0.3% in November, beating forecasts

UK economy grew by 0.3% in November, beating forecasts

Summary

The UK economy grew by 0.3% in November 2023, which was more than expected. This growth was mainly due to a rebound in car production and improvements in the services sector.

Key Facts

  • The UK economy grew by 0.3% in November.
  • This growth was stronger than what experts had predicted.
  • Car production saw a rebound, contributing to the economic growth.
  • The services sector also saw improvements, helping the economy.
  • Production increased by 1.1% in November.
  • This increase was largely due to higher electricity and gas supplies.
  • The Office for National Statistics provided these figures.
  • Liz McKeown from the Office for National Statistics mentioned that the economy had a slight growth of 0.1% over the three months ending in November.

Source Information