Free Trial

MNI BRIEF: UK Economy Sees Lacklustre Post-Budget Bounce

Despite modest November recovery, data no barrier to BOE Feb rate cut.

MNI (LONDON) - UK GDP grew 0.1% in November, snapping a run of two consecutive months of contraction, with the upside driven largely by growth in the services sector, the Office for National Statistics said Thursday.

However, the ONS estimated the economy saw no growth in the three months to November, compared with the three months to August 2024, underlining the challenges facing the government still attempting to get its growth agenda on track. “The economy continues to be broadly flat, having grown slightly in November following two small falls in the previous months," ONS Director of Economic Statistics Liz McKeown said.

Keep reading...Show less
171 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

MNI (LONDON) - UK GDP grew 0.1% in November, snapping a run of two consecutive months of contraction, with the upside driven largely by growth in the services sector, the Office for National Statistics said Thursday.

However, the ONS estimated the economy saw no growth in the three months to November, compared with the three months to August 2024, underlining the challenges facing the government still attempting to get its growth agenda on track. “The economy continues to be broadly flat, having grown slightly in November following two small falls in the previous months," ONS Director of Economic Statistics Liz McKeown said.

Keep reading...Show less