UK economy grew unexpectedly in November

By David Harris in Industry News 13th January 2023

An unexpected increase in economic growth in the UK has been announced by the Office for National Statistics (ONS), as monthly gross domestic product (GDP) edged up by 0.1% in November.

Jeremy Hunt

Amid widespread fears that the UK economy was going to contract, the increase in GDP has lessened the certainty that the UK will go into recession.

However, the economy is still weak and in the three months to November, it shrank by 0.3%.

Responding to the figures, chancellor Jeremy Hunt said that the government “would stick to its plan to halve inflation”.