UK GDP grew 0.4% mom in October, slightly below expectation of 0.5% mom. That’s, nonetheless, the sixth consecutive monthly increase. GDP was 23.4% higher than the trough in April, but -7.9% below the level in pre-pandemic February.
Services grew 0.2% mom, but remains -8.6% below February’s level. Production grew 1.3% mom, but was -4.4% below February’s level. Construction rose 1.0% mom, but remains -6.4% below February’s level.
Also released, goods trade deficit widened to GBP -12.0B i, widener than expectation of GBP -9.6B.
