The UK economy grew for the first time in three months in November as GILTs and inflation showed signs of cooling off.
After facing pressure over Britain’s finances from economic heavyweights such as Liz Truss, news that growth returned towards the end of 2024 will come as a welcome relief for the Labour Party.
The latest figures from the Office for National Statistics (ONS) show 0.1 growth in the economy was recorded in November, while inflation has slowed and gilt yields are starting to fall.
UK government borrowing costs have also fallen sharply in the wake of the US inflation figures after hitting multi-decade highs in the past week and the pound has gained.
The 30-year gilt yield is on course for its biggest daily fall since December 2023, down almost 13 basis points at 5.327 per cent. The 10-year yield is down by 14 basis points at 4.746 per cent.
Meanwhile, the FTSE 100 index has gained 84 points to 8,271, a 1 per cent rise, while the FTSE 250 index has jumped by 2.1 per cent. T
The pound is up by nearly 0.6 per cent against the dollar at $1.2284 after the US inflation data, while the euro has gained 0.3 per cent to $1.0335.
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