UK GDP Exceeds Pre-Pandemic Level In November
14 Enero 2022 - 12:45AM
RTTF2
Ahead of the emergence of the Omicron variant, the UK economy
expanded at a faster pace in November to reach its pre-pandemic
level for the first time, data from the Office for National
Statistics showed on Friday.
Gross domestic product grew 0.9 percent month-on-month in
November, faster than the revised 0.2 percent expansion registered
in October and the economists' forecast of 0.4 percent.
GDP was estimated to be above its pre-coronavirus pandemic level
for the first time, by 0.7 percent.
In November, there was an increase in output in all sectors,
with services output the main driver of GDP growth. Services output
grew 0.7 percent.
Production output increased 1.0 percent from the last month.
This followed two consecutive months of negative growth, with a
fall of 0.5 percent in October and a decrease of 0.7 percent in
September.
Manufacturing was the largest contributor to production growth
in November, increasing by 1.1 percent, much faster than the
expected increase of 0.2 percent. At the same time, construction
output grew 3.5 percent, offsetting a fall of 1.7 percent in
October.
In three month to November, GDP advanced 1.1 percent, reflecting
the strong performance of the services sector. GDP was forecast to
grow 0.8 percent.
The recent signs that the Omicron wave is starting to subside
suggests that GDP will probably rebound in February and March, Paul
Dales, an economist at Capital Economics, said. But growth will
then be restrained by the hit from higher taxes and utility prices
from April 1.
In a separate communiqué, the ONS said the visible trade deficit
declined to GBP 11.34 billion in November from GBP 11.81 billion in
October. In November, exports grew 8.5 percent and imports climbed
4.9 percent.
The surplus on services trade totaled GBP 11.96 billion, largely
unchanged from the previous month. Consequently, the total trade
surplus increased moderately to GBP 626 million from GBP 151
million a month ago.
Sterling vs Yen (FX:GBPJPY)
Gráfica de Divisa
De Feb 2024 a Mar 2024
Sterling vs Yen (FX:GBPJPY)
Gráfica de Divisa
De Mar 2023 a Mar 2024