UK economy sees modest development in November 2024
Date
1/16/2025 4:41:23 AM
(MENAFN) The UK Economy saw a 0.1 percent expansion in November 2024, according to the Office for National Statistics (ONS) on Thursday.
The ONS attributed the growth to an increase in services, "following an unrevised decline of 0.1 percent in October 2024."
In contrast, production output dropped by 0.4 percent in November 2024. However, construction output showed a positive change, growing by 0.4 percent during the same month.
The ONS also released foreign trade data, indicating a 0.6 percent decrease in imports for November, bringing the total to £47.2 billion (USD57.6 billion).
Meanwhile, exports rose by 0.8 percent to £28.6 billion (USD34.9 billion), resulting in a foreign trade deficit of £18.6 billion (USD22.7 billion).
Exports to the EU declined by 1.3 percent, while imports from the 27-member bloc fell by 1.2 percent during the same period.
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