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UK Economy Grows 0.1% in October to Mark 20-Month High Level

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British and Great Britain success concept as a path with an upward arrow as a financial and economic prosperity symbol as a 3D illustration.

The United Kingdom’s economy grew by 0.1% in October to hit the highest level in 20 months, driven mainly by the boost in human health activities during the period.

Source: Office for National Statistics

EWU is down 0.12% premarket.

The gross domestic product growth for the month is estimated at 0.1% in October but down 0.5% from its pre-COVID-19 level in February 2020. The monthly index stood at 99.6, the highest in 20 months since February 2020s 100.1.

Services climbed by 0.4% during the month, with the biggest contribution from human health activities, which jumped 3.5% amid the higher face-to-face appointments in general practice surgeries in England.

Production output slipped by 0.6% in October, as electricity and gas fell by 2.9%, and mining and quarrying declined by 5.0%. Construction output declined by 1.8% to mark the steepest drop since April 2020.

Consumer-facing services output rose by 0.3%, driven by an 8.1% jump in the wholesale and retail trade and repair of motor vehicles and motorcycles sector.

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