BREAKING: The UK economy grew by 0.1% in November, according to the latest ONS figures. The figures are a chance to reflect on Rishi Sunak’s economic growth pledge. More here: 📺 Sky 501, Virgin 602, Freeview 233 and YouTube
Data from the Office for National Statistics showed pressure on demand from the effects of high inflation across the board.The figure for November came on the back of a positive growth reading the previous month, largely explained by activity getting back to normal after disruption to output from the late Queen's death.The Bank of England is among public bodies to have forecast that the UK fell into recession during the third quarter of 2022.
Should a reading by the ONS for the October to December period show a negative growth figure, then the economy will have met the criteria for recession: two consecutive quarters of contraction.
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