United Kingdom: Economy rebounds in November
GDP reading: GDP was up 0.3% on a seasonally adjusted month-on-month basis in November, following a 0.1% decline in the previous month and beating market expectations. On a rolling quarter basis, GDP was up 0.1% in November, following a flat reading in the previous rolling quarter.
Drivers: The month-on-month rebound was driven primarily by the services sector, which expanded by 0.3% after contracting by the same margin in the prior month. Moreover, manufacturing activity jumped as output at a major car firm normalized following a cyber-attack.