UK economy grows 0.3%, beats forecasts as motors surge 25.5%

upday.com 2 godzin temu
UK GDP increased by 0.3% in November, new figures have shown (Aaron Chown/PA) Aaron Chown

The UK economy returned to growth in November, expanding by 0.3% and beating economists' forecasts of a 0.2% rise. The rebound was driven by the motor manufacturing industry, which surged after Jaguar Land Rover factories restarted following a cyber attack that had forced shutdowns in September.

The Office for National Statistics reported the growth follows a 0.1% decline in October. September's figures were also revised upward to show 0.1% growth, corrected from an initially reported fall after more data from the pharmaceutical sector became available.

Motor manufacturing rebounds sharply

The motor manufacturing industry jumped 25.5% in November. The sector had experienced a sharp fall in September when JLR factories were forced offline by a cyber attack.

Liz McKeown, director of economic statistics at the ONS, said: «Data for the latest month show that this industry has now largely recovered.»

She added that construction contracted again, registering its largest three-monthly fall in nearly three years. The construction sector's decline stands in stark contrast to the manufacturing recovery.

Note: This article was created with Artificial Intelligence (AI).

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