Economy in brief: November 2024

Weaker growth in Q3 belies a broad-based expansion in activity.

The UK economy grew by just 0.1% in Q3 2024, marking a big shift down from the above-trend growth rates seen over the first half of the year (0.5% in Q2, and 0.7% in Q1). While the slowing was greater than most analysts had expected, this appeared to be driven by“noise” in the data, largely attributable to volatility in flows of non-monetary gold. Indeed, household spending, government consumption and