Britain’s economy expanded more than anticipated in November, according to figures released Thursday by the Office for National Statistics (ONS). Gross domestic product climbed 0.3% month-on-month, surpassing the 0.1% increase forecast in a Reuters survey of economists.
Growth in November was driven by a 0.3% rise in the services sector and a robust 1.1% rebound in production. However, construction activity declined by 1.3% during the period, ONS data showed. The pound traded little changed at $1.3433 in response to the report.
November’s performance marked a reversal from October, when output shrank unexpectedly by 0.1%, a contraction linked by the ONS to ongoing impacts from a cybersecurity attack that disrupted production at Jaguar Land Rover and widespread uncertainty among consumers and businesses ahead of the Autumn Budget.
Looking ahead, economists project the U.K. economy will strengthen in 2026, underpinned by expectations that the Bank of England will press forward with interest rate reductions.
