UK economy grows as GDP rises 0.1% & what it means for your money
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THE UK economy grew in November offering some relief for the government. The latest figures from the Office for National Statistics (ONS) reveal Gross Domestic Product (GDP) rose by 0.1% in November. This comes following a 0.1% fall in both September and October - the first time the economy had contracted for two consecutive months since March and April 2020.
![[British coins and a twenty pound note.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/great-britain-pound-currency-884692919_97779d.jpg?strip=all&w=960)
GDP in November grew largely due to the services sector, which rose by 0.1%. The production sector shrank by 0.4% which was offset by construction which grew by 0.4%. However, the ONS also said GDP was estimated to have shown no growth in the three months to November.
Liz McKeown, director of economic statistics at the ONS, said: "Services grew a little, with wholesaling, pubs and restaurants and IT companies all doing well, partially offset by falls in accountancy and business rental and leasing. "Construction also grew, led by new commercial developments, while production continued to decline in November with further falls across a range of manufacturing industries and oil and gas extraction companies.".
The latest figures mark a small shift in the outlook for the economy after revised figures revealed the UK economy flatlined between July and September last year. GDP is one of the main indicators used to measure how well an economy is performing. When it goes up, it means the economy is doing well, and the inverse when it falls.
