Commenting on the latest ONS GDP data, Barret Kupelian, Chief Economist at PwC, says:
“The first major economic datapoint after the Autumn Budget shows that UK economic activity grew in the month of November by 0.1%, following two months of negative growth and below consensus estimates.
“We know that in net terms growth remained flat for the three months to November therefore we are clearly far off from a state where the economy has reached ‘escape velocity’ and grows on a sustained basis.
“Given the latest inflation reading yesterday, weaker than expected growth could help pave the way for faster rate cuts by the Bank of England. This could be a helpful tailwind to the economy at a time when the international outlook becomes more unpredictable.”
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