The UK’s economy returned to growth in November.
According to new figures from the Office for National Statistics (ONS), GDP (gross domestic product), a key measure of economy growth, expanded by 0.1%, although this was below expectations of 0.2% growth. It reverses a 0.1% fall in October.
It reflects, across key sectors, monthly services output expanding by 0.1% in November, after falling by 0.1% in October, construction output increasing by 0.4% in November, following a fall of 0.3% in October, and production output falling by 0.4% in November, following a fall of 0.6% in October.
UK GDP showed no growth in the three months to November.
Ben Jones, CBI Lead Economist, said: “After a string of disappointing data, it’s good to see that growth returned to positive territory in November, though the economy is still only on track for a very modest expansion at best over the final quarter of last year.
“In the wake of the Autumn Budget a mood of caution seems to have settled over UK businesses. Many firms are entering 2025 with a focus on reducing operational expenditure, which is likely to weigh on pay, hiring and investment in the months ahead.
“The Government can help shift the UK’s economic narrative with more determined focus on measures that could underpin growth.
“Reforming the business rates system, implementing flexibility in the Apprenticeship Levy and supporting people to stay in work through expanding employer occupational health provision would give businesses immediate flex for investment.
“In the long-term there is a pressing need to develop an effective industrial strategy that supports our whole economy.”
