UK GDP Recovers In November

(RTTNews) - The UK economy rebounded more than expected in November, the Office for National Statistics said on Thursday.

Gross domestic product logged a monthly growth of 0.3 percent, reversing a 0.1 percent drop in October. GDP was expected to grow marginally by 0.1 percent.

Data showed that growth was underpinned by the 0.3 percent rise in services output and a 1.1 percent gain in industrial output. However, construction registered a 1.3 percent fall.

On a yearly basis, real GDP advanced 1.4 percent in November, which was stronger than the expected increase of 1.1 percent.

In the three months to November, GDP grew only 0.1 percent from the previous three months. This followed no growth in the three months to October. GDP moved up 1.3 percent in the three months to November from the same period last year.

Another data showed that the visible trade deficit narrowed to GBP 23.7 billion in November from GBP 24.2 billion in the previous month. However, the shortfall was bigger than forecast of GBP 20.3 billion. The total trade deficit fell to GBP 6.1 billion from GBP 6.5 billion a month ago.