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MNI BRIEF: UK Nov GDP Beats Forecasts, Exceeds Pre-Covid Level

(MNI) LONDON
(MNI) London

UK GDP jumped by 0.9% in November, far outpacing forecasts of a 0.4% rise, taking output 0.7% above the pre-Covid-19 level seen in February 2020, the Office for National Statistics said Friday. Services rose by 0.7%, adding 1.05 percentage points to total output. Education and retail were particularly strong, but services were robust across the board, according to an ONS official.

Manufacturing rose by 1.1% in November, lifting total production by 1.0%, despite a 1.3% decline in mining and quarrying.

Construction jumped by 3.5%, as shortages of materials that contributed to a sharp fall in October “eased slightly,” according the official. Mild November weather also lifted the sector.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
DataPolicy NewsHomepageData StoriesData BriefCEEMEABank Of England (BOE) Market NewsBriefUKStoryRegion
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
DataPolicy NewsHomepageData StoriesData BriefCEEMEABank Of England (BOE) Market NewsBriefUKStoryRegion
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