"All of the noise about fiscal holes, tax increases and spending cuts before her late November budget was having a real-world effect on the spending decisions of households and businesses. The latest official figures will therefore come as a boost for the chancellor. Britain's economy grew more strongly than expected in November, up 0.3%, despite the fog of uncertainty in the lead up to her critical tax and spending speech at the end of the month."
"After manufacturing output was crushed by the Jaguar Land Rover cyber-attack earlier in the autumn, a recovery was always anticipated. With the return of its production lines close to capacity, factory output in November raced ahead. Elsewhere there were signs of the budget speculation hitting output. Real estate activity slumped in November, as property owners and house hunters put things on hold while awaiting the outcome of the chancellor's tax decisions."
Britain's economy expanded by 0.3% in November despite heavy pre-budget uncertainty that affected spending decisions. Manufacturing rebounded after a Jaguar Land Rover cyber-attack, with production lines returning close to capacity and factory output jumping. Real estate activity slumped as property owners and buyers delayed decisions pending tax outcomes. Consumer-facing businesses struggled as household confidence was sapped by fiscal speculation. The service sector remained stronger than expected and helped drive overall growth. Treasury officials acknowledged that excessive speculation had throttled growth and the chancellor promised a no-frills spring statement, larger fiscal buffers, and removal of a spring OBR compliance check to reduce future pre-budget disruption.
Read at www.theguardian.com
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