UK economy grew by 0.3% in November, beating forecasts

"The UK economy grew by a faster-than-expected 0.3% in November after car production rebounded and the services sector got a boost. Growth was driven by an increase in industrial output, helped by the return to production at Jaguar Land Rover's facilities following the cyber-attack at the carmaker. November's growth figure was stronger than analysts' expectations of a 0.1% increase. The Office for National Statistics also said the economy "grew slightly" over the three months to the end of November, by 0.1%."

"Manufacturing output increased in November, rising by 2.1%, thanks to a big 25.5% increase in the output of motor vehicles as JLR production continued to pick up. With the Budget on 26 November, there was also an increase in services driven by activities such as accounting and tax consultancy. YaelSelfin, chief economist at KPMG UK, said the figures showed economic activity accelerated despite uncertainty in the lead up to the Budget."

"November's growth figure was stronger than analysts' expectations of a 0.1% increase. The Office for National Statistics also said the economy "grew slightly" over the three months to the end of November, by 0.1%. Manufacturing output increased in November, rising by 2.1%, thanks to a big 25.5% increase in the output of motor vehicles as JLR production continued to pick up. However, construction output fell by 1.3% in November, and the ONS said the sector also registered "its largest three-monthly fall in nearly three years"."

The UK economy expanded by 0.3% in November, outpacing analysts' 0.1% expectation. Industrial output rose after Jaguar Land Rover resumed production following a cyber-attack, and manufacturing increased by 2.1% with motor vehicle output up 25.5%. Services benefited around the Budget, including accounting and tax consultancy, with tentative signs of household spending picking up. Construction fell 1.3% and recorded its largest three-monthly fall in nearly three years. A Treasury spokesperson highlighted infrastructure investment and planning reform, and KPMG predicted continued momentum as business uncertainty eased.

Read at www.bbc.com