UK's monthly GDP surges 0.2% YoY in Nov 2022: ONS

The manufacture of textile wearing apparel and leather products was up by 0.02 per cent in November 2022. Monthly GDP is now estimated to be 0.3 per cent below its COVID-19 levels (February 2020). Production output decreased by 0.2 per cent in November 2022, after a fall of 0.1 per cent in October 2022, according to data from the ONS.

Manufacturing was the main driver of negative production growth in November 2022, falling by 0.5 per cent in the month. The main drivers for the fall in manufacturing include the manufacture of chemicals and chemical products (down 2.8 per cent). Manufacturing saw falls in six of its 13 sub-sectors; these falls were enough to offset the growth seen in the other seven.

Fibre2Fashion News Desk (NB)