The UK economy expanded by 0.3% in November, surpassing expectations of 0.1% growth, according to new data from the Office for National Statistics. This follows a 0.1% contraction in October, providing a boost to Chancellor Rachel Reeves amid pre-Budget uncertainty.
The growth was driven partly by a recovery in car production after a cyber-attack on Jaguar Land Rover, with motor vehicle manufacturing rising 25.5% in November. September's growth was also revised up to 0.1% from an initial estimate of a 0.1% fall.
However, the construction sector continued to struggle, with output falling more than 1% in the three months to November, its worst slump in over two years. The FTSE 100 closed at a record high of 10,238.94 points, supported by the GDP data and falling gilt yields.
Separately, regulator Ofwat has launched an investigation into South East Water after repeated outages left tens of thousands without drinking water since November. The chief executive, David Hinton, is in line for a £400,000 long-term bonus if he remains until July 2030.
