MORE public investment and well-funded public services are needed to grow the economy, experts warned today after the latest figures revealed a weaker than expected rise.

Figures by the Office for National Statistics for November showed a growth of 0.1 per cent after falling by the same amounts in September and October.

Most economists expected the gross domestic product (GDP) to rebound by 0.2 per cent.

Institute for Public Policy Research economist Pranesh Narayanan said that the Bank of England must immediately bring down interest rates to help figures and urged the Treasury to “hold its nerve and avoid knee-jerk reactions.”

He said: “They were moving more in response to uncertainty around global inflation and interest rates driven by speculation around incoming [US] President Trump’s economic policies, rather than anything going on in the UK or [Chancellor] Rachel Reeves’ budget.

“More public investment and well-funded public services will provide businesses and consumers with the foundations they need to achieve strong growth.”

Ms Reeves said she would “fight every day” to deliver growth and “put more money into working people’s pockets.”

TUC general secretary Paul Nowak blamed the Tories for “[leaving] behind a failed economy.” 

He said: “The government has made the right call on big economic decisions — boosting public investment and prioritising working people’s incomes has set us in the right direction.”

Mr Nowak also called on the bank to “keep playing its part too” with an “essential” rate cut next month.

“Restoring sustained growth rates, along with better jobs and living standards, will be no small task — but it must remain a national priority,” he said

“We cannot continue with the broken status quo of the last 14 years.”

Prime Minister Sir Keir Starmer said that turning the economy will “take time” and that his government would be “unrelenting” in its pursuit of growth.

But Resolution Foundation senior economist Simon Pittaway said that Britain risks returning to “its longer-term record [of] economic stagnation,” adding: “The paltry GDP growth late last year reinforces the need for the government’s economic plans to start bearing fruit.”

A Momentum spokesperson said: “The government has repeatedly promised growth but has no plan to achieve it.

“From wealth taxes to mass investment in our public services, the government has missed out on an opportunity to fix the crises facing Britain.

“Voters want real change, not more austerity.”