The
UK
economy
grew
by
slightly
more
than
expected
in
November
last
year,
according
to
fresh
figures
from
the
Office
for
National
Statistics
(ONS)
on
Friday.
UK
gross
domestic
product
(GDP)
grew
0.3%
on
a
monthly
basis
in
November,
the
ONS
said,
having
contracted
by
0.3%
in
October.
The
market
had
been
expecting
0.2%
growth,
according
to
FXStreet-cited
consensus.
The
ONS
explained
that
growth
in
services
was
the
main
contributor
to
the
monthly
growth
in
GDP.
Services
output
rose
0.4%
in
November,
after
a
0.1%
contraction
in
October.
Within
services,
the
largest
contributor
was
information
&
communication,
which
grew
1.5%
after
falling
0.9%.
Production
output
grew
0.3%,
after
falling
1.3%.
Construction
output
fell
0.2%,
after
falling
0.4%.
Separately,
the
ONS
also
reported
trade
data
for
November.
Trade
in
goods
and
services
deficit
widened
slightly
by
£400
million
to
£9.3
billion
in
the
three
months
to
November,
but
has
been
“broadly
stable”
over
much
of
2023,
the
ONS
noted.
Total
imports
fell
1.1%
to
£219.9
billion,
while
exports
fell
1.4%
to
£210.6
billion.
The
UK’s
long-discussed
trade
deficit
widened
by
£300
million
to
£47.8
billion,
while
the
trade
in
services
surplus
narrowed
by
£200
million
to
£38.5
billion.
Share
prices
in
London
climbed
at
Friday’s
market
open,
with
the
stronger-than-expected
UK
economic
growth
print
providing
cheer
amid
rising
tensions
in
the
Middle
East
and
Thursday’s
hot
US
inflation
data.
The
FTSE
100
index
opened
up
58.08
points,
0.8%,
at
7,634.67,
while
the
FTSE
250
was
up
178.66
points,
0.9%,
at
19,286.59.
The
Alternative
Investment
Market
All-Share
was
up
4.34
points,
0.6%,
at
749.06.
By
Elizabeth
Winters,
Alliance
News
deputy
news
editor
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