Britain’s economy grew by 0.2% in November on an annual basis

Britain’s economy grew in November on an annual basis by 0.2%, compared to an expected growth of 0.3%.

On a monthly basis, real GDP grew by 0.1% in November 2022, after it recorded a growth of 0.5% in October 2022.

The services sector grew by 0.2% in November 2022, after a growth of 0.7% in October 2022, and the largest contributions came from administrative activities, support services, information and communications.

The main driver of services growth in November 2022 was administrative and support activities, which grew by 2% in November 2022. All six industries in this sub-sector experienced growth during the month, with staffing activities contributing the largest growth of 2.1%.

The second largest contribution within services came from information and communications, which grew by 1.7% in November 2022 after a growth of 0.8% in October 2022.

Communications, programming, consulting and related activities were the largest contributors, with growth of 3.9% and 2.4%, respectively.