UK November monthly GDP +0.3% vs +0.1% m/m expected

In November 2023, the UK posted a monthly GDP growth of +0.3%, significantly surpassing the economist forecast of +0.1%. Year-on-year, the GDP increased by +1.4%, outperforming the expected +1.1%. Notably, the services sector grew by +0.3%, exceeding expectations. Industrial output rose by +1.1%, well above the forecast of +0.1%. Manufacturing output was particularly robust at +2.1%, contrasting with an expected +0.5%, with prior figures also revised upwards. However, construction output faced a decline of -1.3%, which was below the forecast of 0.0%. Overall, the UK economy appears to be performing well, particularly in the service and manufacturing sectors. The market will be keenly watching for the next economic indicators.