UK economy sees weaker than expected growth in November

Chancellor Rachel Reeves has insisted she will “fight every day” to deliver economic growth after the latest official figures showed weaker-than-expected expansion in November.

The Office for National Statistics (ONS) estimated the UK economy grew in November by 0.1% after falling by 0.1% in both September and October.

While a welcome return to growth, most economists were expecting gross domestic product (GDP) to rebound by 0.2% in November.

The figures come after a difficult past couple of weeks for the Chancellor, after government borrowing costs surged and the value of the pound slumped amid worries over the economy and UK debt levels.

Markets calmed on Wednesday after a surprise fall in inflation, offering some welcome respite to Ms Reeves.

She said: “After 14 years of economic stagnation, this Government’s number one mission is to grow our economy.

“I will fight every day to deliver that growth and put more money into working people’s pockets.”

Published: 16/01/2025 by Radio NewsHub