People walk along Waterloo Bridge past the City of London skyline, the capital’s financial district. U.K.-focused equity funds saw record outflows in 2022.
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LONDON — U.K. GDP grew 0.1% in November, according to new data Friday from the Office for National Statistics, defying economists’ expectations and reducing the likelihood that Britain entered a technical recession in the fourth quarter.
A Reuters poll of economists had forecast a 0.2% contraction amid a bleak overall picture for the British economy.
The third quarter of 2022 saw a 0.3% contraction, but after a 0.5% expansion in monthly real GDP in October and the surprise 0.1% growth in November, a technical recession (two consecutive quarters of negative growth) appears to have been averted for now.
“Output in consumer-facing services grew by 0.4% in November 2022, following growth of 1.5% (revised up from a growth of 1.2% in our previous…
