The Office for National Statistics in the UK released today, Thursday morning, data on the growth of the country's GDP for November, which came in extremely negative and below market expectations once again.
The data showed that the UK economy recorded a real GDP growth of 0.1% in November, while markets had anticipated a growth of about 0.2%. The previous reading indicated a contraction of 0.1% in October.
It is worth noting that this indicator measures the change in the inflation-adjusted value of all goods and services produced by the UK economy. This indicator is of great importance as it is considered the broadest measure of economic activity and the fundamental gauge of economic health.
This came alongside a contraction in manufacturing output in the UK by 1.5% at the end of November, which was worse than market expectations that anticipated a contraction of only about 0.2%. Manufacturing output in the UK had contracted by 0.6% during October.
