{"id":2528,"date":"2025-01-16T13:55:48","date_gmt":"2025-01-16T13:55:48","guid":{"rendered":"https:\/\/otetmarkets.com\/blog\/?p=2528"},"modified":"2025-01-16T13:55:48","modified_gmt":"2025-01-16T13:55:48","slug":"uk-gdp-november-2024","status":"publish","type":"post","link":"https:\/\/otetmarkets.com\/blog\/news\/uk-gdp-november-2024\/","title":{"rendered":"UK Economy Grows by 0.1% in November 2024"},"content":{"rendered":"\n<p>UK Economy experienced a slight growth of 0.1% month-on-month in November 2024, recovering from consecutive contractions of 0.1% in both October and September. However, this growth fell short of the expected 0.2% increase, signaling a slower-than-anticipated recovery.<\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"482\" data-id=\"2531\" src=\"https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2025\/01\/slider-2025-01-16T112918.608-1024x482-1.webp\" alt=\"\" class=\"wp-image-2531\" srcset=\"https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2025\/01\/slider-2025-01-16T112918.608-1024x482-1.webp 1024w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2025\/01\/slider-2025-01-16T112918.608-1024x482-1-300x141.webp 300w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2025\/01\/slider-2025-01-16T112918.608-1024x482-1-768x362.webp 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-services-sector-drives-growth\"><strong>Services Sector Drives Growth<\/strong><\/h2>\n\n\n\n<p>The services sector played a crucial role in UK Economy, contributing 0.1% to the overall growth. Notable gains were seen in accommodation and food services, which grew by 2%, as well as in computer programming and consultancy (1%) and telecommunications (1.2%). However, there was a decline in administrative and support service activities, particularly in rental and leasing services, which fell by 2.4%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-construction-and-production-sectors-show-mixed-results-in-uk-economy\"><strong>Construction and Production Sectors Show Mixed Results in UK Economy<\/strong><\/h3>\n\n\n\n<p>The construction sector also showed positive growth, expanding by 0.4% in November. In contrast, the production sector faced challenges, contracting by 0.4%. This decline was driven by a 0.3% fall in manufacturing, with significant reductions in manufacturing and repair (-2.1%) and the production of basic pharmaceutical products and preparations (-1.9%). Additionally, other sectors like mining and quarrying (-1.5%) and water supply, sewerage, and waste management (-0.3%) also faced declines.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Read More : <a href=\"https:\/\/otetmarkets.com\/blog\/news\/uk-consumer-confidence-index-drops\/\">UK Consumer Confidence Index Drops<\/a><\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-no-growth-in-gdp-over-three-months\"><strong>No Growth in GDP Over Three Months<\/strong><\/h3>\n\n\n\n<p>Looking at the broader picture, the UK&#8217;s GDP showed no growth in the three months leading up to November when compared to the previous period. This indicates a period of stagnation, despite the positive movement in certain sectors, suggesting ongoing challenges for the economy as it faces global and domestic pressures.<\/p>\n\n\n\n<p><a href=\"https:\/\/tradingeconomics.com\/united-kingdom\/monthly-gdp-mom\" target=\"_blank\" rel=\"noopener\">Source<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK Economy experienced a slight growth of 0.1% month-on-month in November 2024, recovering from consecutive contractions of 0.1% in both October and September. However, this growth fell short of the expected 0.2% increase, signaling a slower-than-anticipated recovery. Services Sector Drives Growth The services sector played a crucial role in UK Economy, contributing 0.1% to the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,2],"tags":[37],"class_list":["post-2528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-economy-news","category-news","tag-financialnews"],"_links":{"self":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/2528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=2528"}],"version-history":[{"count":5,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/2528\/revisions"}],"predecessor-version":[{"id":2536,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/2528\/revisions\/2536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media\/2535"}],"wp:attachment":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=2528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=2528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=2528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}