The British economy expanded 0.1% in November from October of 2022, easing from a 0.5% growth in the previous period but beating market forecasts of a 0.2% decline. Output in consumer-facing services was up 0.4% (vs 1.5% in October), led by food and beverage service activities in a month where the FIFA World Cup started. The services sector as a whole grew by 0.2%, after growth of 0.7% in October, with the largest contributions coming from administrative and support service activities and information and communication. Meanwhile, production output decreased by 0.2%, after a fall of 0.1% in October. Manufacturing was the main driver of the decline, partially offset by a positive contribution from mining and quarrying. The construction sector was flat (vs 0.8% in October). Considering the three months to November, the UK GDP fell 0.3%. The economy is now estimated to be 0.3% below its pre-coronavirus levels in February of 2020. source: Office for National Statistics
Monthly GDP MoM in the United Kingdom averaged 0.16 percent from 1997 until 2022, reaching an all time high of 9.00 percent in June of 2020 and a record low of -20.90 percent in April of 2020. This page includes a chart with historical data for the United Kingdom Monthly GDP MoM. United Kingdom Monthly GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
Monthly GDP MoM in the United Kingdom is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Monthly GDP MoM is projected to trend around 0.30 percent in 2024, according to our econometric models.