GDP rose 0.1 per cent in the three months to November with broad-based growth in services of 0.2 per cent offsetting weakness in manufacturing and construction.

• On a monthly basis, GDP rose by 0.4 per cent in November. This marks a rebound in growth following a monthly fall in GDP by -0.2 per cent in October. While manufacturing also saw strong rebound in terms of monthly growth, the construction sector continued to contract, falling by -1.3 per cent in November.
• With an uptick across all PMIs following in December, there are some early signs of a pickup in confidence following the prolonged period of caution in the run up to the 2025 Budget.
• Following the poor start to 2025 Q4, GDP growth in November performed better than expected due to strong service sector performance. In 2026, we forecast the service sector to continue to support growth while manufacturing and construction are set to stagnate.