UK economic shows good signs of growth

The UK economy recovered in November thanks to higher retail sales, and confidence in the UK property market. According to official statistics, the GDP expanded by 0.3% in November following a decline in the previous month.

Speaking to the BBC Grant Fitzner, chief economist at the ONS outlined that November's rebound was driven by"strong retail sales but also car leasing, computer games and fewer strikes than we've seen in previous months".

"We have had quite a number of companies telling us they saw strong Black Friday sales which had a positive impact not just on the retail sector but also warehousing, couriers and some manufacturing sectors."

In order to meet the government's goal of growing the economy by the end of 2023, there will need to be an additional increase in activity in November and December.

Most people view economic expansion favourably since it increases corporate profits, tends to produce more jobs, and allows employers to raise employee wages.

With confidence growing in the UK’s economy, further international investment into finance, property and UK business is expected in the first half of 2024. With demand for property in the UK continuing to push developers, we anticipate that rents across the north west in particular will continue to grow at record levels.

If you would like to know more about investing in UK property, speak to a member of the IPG team today by calling: +44 (0)151 433 5818