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UK GDP grew 0.1% mom in Nov, avoided contraction

UK real GDP grew 0.1% mom in November, much better than expectation of -0.3% mom contraction. Services grew 0.2% mom. Production declined -0.2% mom. Construction was flat. Overall monthly GDP is -0.3% below its pre-pandemic levels.

In the three months to November, GDP fell -0.3% 3mo3mo. there was a -0.1% decline in Services, -1.4% decline in production, with the only growth coming from 0.3% in construction.

Full GDP release here.

Also published, manufacturing production was down -0.5% mom, -5.9% yoy in November, versus expectation of -0.2% mom, -5.2% yoy. Industrial production was down -0.2% mom, -5.1% yoy, versus expectation of -0.1% mom, -2.8% yoy. Goods trade deficit widened to GBP -15.6B, versus expectation of GBP -14.9B.

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