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GDP Monthly Estimate: November 2022

UK GDP is estimated to have risen 0.1% in November

Monthly GDP index, January 2007 until November 2022, 2019 = 100. Source: ONS

  • GDP rose by an estimated 0.1% in November, following growth of 0.5% in October. 
  • GDP also fell by 0.3% in the three months to November. 
  • Services and consumer-facing services grew by 0.2% and 0.4% respectively in November. Production output decreased by 0.2%, while the construction sector saw flat growth.

Services (0.2%)

Services grew by 0.2% in November, following growth of 0.7% in October. Growth was driven by administrative and support activities (2.0%), information and communications (1.7%), and human health and social work activities (0.9%). Transportation and storage fell by 2.7%.

Output in consumer-facing services grew by 0.4% in November, following growth of 1.5% in October. The largest contributing industry was food and beverage service activities, (2.2%) which grew by 2.2% in the month, spurred on by the FIFA World Cup. This follows a fall of 3.3% in September 2022. 

There were also strong contributions from wholesale and retail trade (2.5%) and repair of motor vehicles and motorcycles, which grew by 2.5%, and travel agency, tour operator and other reservation service and related activities (3.7%)., which grew by 3.7%. The largest negative contributor was sport activities and amusement and recreation activities, which fell by 3.2%, while retail trade fell by 0.4%. 

Consumer-facing services were 8.5% below their pre-coronavirus pandemic levels (February 2020) in November, while all other services were 2.0% above. 

Overall, services fell by 0.1% in the three months to October, with negative growth seen in 9 of the 14 services sectors.

Production (-0.2%)

Production output fell by 0.2% in November, after a fall of 0.1% in October. Manufacturing was the largest negative contributor, falling by 0.7% on the month. The main driver of growth was the manufacture of transport equipment (1.1%).Electricity, gas, steam and air conditioning supply fell by 0.4%, while water supply and sewerage grew by 0.2%. Mining and quarrying was the largest positive contributor to production, with growth of 2.8% in November 2022. 

Overall, production decreased by 1.4% in the three months to November, compared with the three months to August 2022, mainly due to manufacturing, which fell by 1.2%.

Construction (0.0%)

Construction growth was flat in November, following an increase of 0.4% in October. A decrease in new work (-0.4%) was offset by an increase in repair and maintenance (0.6%), with six out of nine sectors seeing an increase on the month.

Construction output saw an increase of 0.3% in the three months to November.

GDP Sector Breakdown

Source: ONS

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