Latest data released by ONS - 15 January 2021
- Prior +0.4%; revised to +0.6%
- Monthly GDP +4.1% vs +3.3% 3m/3m expected
- Prior +10.2%; revised to +10.5%
The UK economy contracted in the month of November, as lockdown measures were reinstated during the month. That said, the decline was much less than estimated, so that is at least a bit of a plus but the market isn't all too interested at this stage.
The focus remains more on how things are presently and the outlook, so data stretching back to last year - especially November - is rather outdated by now.
ONS notes that the services sector was the main drag on November economic output, with activity running 9.9% below its level seen in February last year.
There's also factory activity data released at the same time are as per below:
- Manufacturing production +0.7% vs +1.0% m/m expected
- Prior +1.7%
- Manufacturing production -3.8% vs -4.8% y/y expected
- Prior -7.1%
- Industrial production -0.1% vs +0.5% m/m expected
- Prior +1.3%
- Industrial production -4.7% vs -4.2% y/y expected
- Prior -5.5%
- Construction output +1.9% vs +0.5% m/m expected
- Prior +1.0%
- Construction output -1.4% vs -8.0% y/y expected
- Prior -7.4%
