The latest health check on the UK economy is expected to show GDP grew by just 0.1% in November
Economists polled by Reuters are expecting the ONS figures later this morning to show Britain’s manufacturing sector grew by 0.3% in November.
But as we saw yesterday with Jaguar Land Rover and Ford axing thousands of jobs, car manufacturers in particular are struggling.
Concerns about a slowdown in the UK economy will focus on a different sector today with the release of the latest manufacturing and industrial production numbers for November. We’ve already seen some ugly numbers out from Germany and France this week raising concerns that Germany could fall into recession in Q4.
If the weak economic environment in Europe is any guide the UK could well cop some of the fallout from that, with the sharp decline in oil prices also weighing on the UK oil and gas sector.
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UK growth figures at 9.30am will provide the latest insight into how the economy is faring as Brexit looms. It’s not expected to be pretty, with City economists pencilling in growth of just 0.1% in November.