UK’s economy shrinks unexpectedly by 0.1% in October

UK’s economy shrinks unexpectedly by 0.1% in October

Britain’s economy shrank by 0.1% in October, underlining the scale of Labour’s challenge to get the economy growing.

Figures from the Office for National Statistics showed the unexpected fall in GDP was driven by declines in construction and production, while the dominant services sector stagnated.

Economists, polled by Reuters, had expected the economy to grow by 0.1%. It follows a decline of 0.1% in September and sluggish growth of 0.1% in the third quarter of the year, according to figures last month.

https://www.theguardian.com/business/2024/dec/13/uk-economy-october-gdp