UK GDP grows 0.1 in Nov after 0.5 Oct increase
Recession would require sharp fall in Dec GDP
Output still 0.3 lower than before pandemic
High inflation to squeeze households in 2023
LONDON, Jan 13 Reuters Britain39;s economy unexpectedly eked out some growth in November after a boost from World Cup drinkers and video game sales, reducing the chance that it has already slipped into recession, but the picture for 2023 remains gloomy.
Gross domestic product rose 0.1 from October, figures from the Office for National Statistics showed on Friday, a higher reading than any forecast in a Reuters poll of economists which had pointed to a 0.2 decline.
The growth surprise means there will need to have been a sharp fall of around 0.5 in output in December for Britain to record two straight quarters of falling GDP, the commonly used definition of recession in Europe.
The world39;s sixthbiggest economy shrank 0.3 in the three months to the end of September, when output was hit by business closures to mark Queen Elizabeth39;s funeral.
With a fair wind, the UK may now avoid recession, though December was marked by widespread strikes and activity survey readings were weak, HSBC economist Liz Martins said.
The broader picture remains subdued. The ONS said economic output in November was 0.3 lower than before the pandemic. In all the other Group of Seven economies output has surpassed prepandemic levels.
Consumer price inflation hit a 41year high of 11.1 in October and living…