Monthly UK GDP grew by estimated 0.3% in Nov 2023 post Oct's 0.3% fall

Monthly GDP is estimated to have grown by 0.3 per cent in November, following an unrevised fall of 0.3 per cent in October, according to the Office of National Statistics (ONS).

Monthly GDP grew by 0.2 per cent in November 2023 compared with the same month in 2022. It fell by 0.1 per cent in between October 2022 and October 2023.

Production output grew by 0.3 per cent in November last year, following a fall of 1.3 per cent in October.

Production output is estimated to have fallen by 1.5 per cent in the three months to November last year compared with the three months to August. That was caused by a 1.9 per cent fall in manufacturing, with 11 of 13 manufacturing subsections declining over this period, an ONS release said.

On the month, production output is estimated to have grown by 0.3 per cent in November last year, attributed to growth in manufacturing output. This monthly growth in production follows a fall of 1.3 per cent in October 2023 and is the first monthly growth since June 2023.

Manufacturing in the United Kingdom grew by 0.4 per cent in November last year, with growth in 9 of the 13 sub-sectors, after a fall of 1.2 per cent in October.

ALCHEMPro News Desk (DS)