Share your thoughts on our News & Insights section. Complete our survey to help us improve.

UK economy inches up by lower-than-expected 0.1% in November

Banners of 5 seperate UK flags draped across roofs on Regent Street London.jpg

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Britain's economic output inched up by a lower-than-expected 0.1% in November compared with October, data from the Office for National Statistics showed on Thursday.

A Reuters poll of economists had forecast a monthly expansion of 0.2%.

The figures from the Office for National Statistics represented the first gauge of gross domestic product in the period after finance minister Rachel Reeves' Oct. 30 budget which included increases in the tax burden on employers.

Britain's economy, which was slow to recover from the COVID-19 pandemic, showed zero growth in the third quarter when uncertainty about the upcoming budget hit businesses. The Bank of England expects another flat-lining in the last three months of 2024.

Concerns about weak growth contributed to a recent surge in government borrowing costs which dropped sharply on Wednesday after a surprise fall in inflation.

The Labour government says it is targeting the fastest per capita growth in gross domestic product among the Group of Seven advanced economies.

(Reporting by Suban Abdulla and William Schomberg)

Copyright (2025) Thomson Reuters.

This article was from Reuters and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.