Minimal GDP growth reverses two months of contraction

Rachel Reeves at No 11

The UK economy struggled to minimal growth, the latest GDP figures for November revealed today.

It had contracted by 0.1% in both October and September, but new Office for National Statistics (ONS) figures this morning (January 16), showed it improved by a meagre 0.1%.

It was expected to grow by 0.2%.

The latest quarterly data showed there was no economic growth in the three months from July to September.

The ONS described the economy as “broadly flat”.

Today’s figures revealed that the pubs, restaurants and IT sectors were the best performers.

Also, new commercial developments boosted the construction industry, ONS director of economic statistics, Liz McKeown, said.

Chancellor Rachel Reeves said: “I am determined to go further and faster to kick-start economic growth, which is the number one priority in our plan for change.

“That means generating investment, driving reform and a relentless commitment to root out waste in public spending, and today I will be pressing regulators on what more they can do to deliver growth.”

She added: “After 14 years of economic stagnation, this government’s number one mission is to grow our economy. I will fight every day to deliver that growth and put more money into working people’s pockets.”

Close