By Ed Frankl
The U.K. economy expanded by more than expected in November, driven by services-sector growth, potentially reducing the prospect of imminent Bank of England interest-rate cuts.
Gross domestic product rose by 0.3% compared with a month earlier, according to figures published Friday by the Office for National Statistics. Economists polled by The Wall Street Journal had expected GDP to grow by just 0.2%.
While the economic growth could lift some recession concerns, after a 0.3% contraction in October the country remains in a fragile economic environment. Zero expansion in December would mean flat growth in the final quarter of 2023, the ONS said.
Write to Ed Frankl at edward.frankl@wsj.com
