The economy grew by 0.1% in November, according to official figures
"This was partially offset by further falls in some manufacturing industries, including the often-erratic pharmaceutical industry, as well as falls in transport and postal, partially due to the impact of strikes."Over the last three months, however, the economy still shrank - mainly due to the impact of the extra bank holiday for the funeral of Her Majesty Queen Elizabeth in September.
The prospect of avoiding such a downturn is easing not only in the UK but across Europe and in the US too but it does not mean that all is rosy. Pressure on squeezed consumers too is set to intensify as the Bank of England is still forecast to maintain interest rate increases to help inflation ease over the first half of 2023, raising bills in the process as mortgage costs climb.Food inflation reaches record levels
Jonathan Moyes, head of investment research at the Wealth Club investor service, said of the UK's prospects:"We have seen retailers report stronger than expected earnings reports for Q4 over the past week, and it appears a stronger than expected consumer services and services more broadly have helped the UK economy defy gloomy expectations.
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