UK GDP predicted to fall 1% as industrial output slumps

The Office for National Statistics figures revealed publishing and metal products were the worst hit in a month when the financial world rapidly deteriorated. Output by production industries the three months to October fell 1.8% compared with the previous three months. Companies involved in metals and metal products saw output fall 4.2%, followed by paper and publishing, which fell 3.6% and transport equipment output dropped 2.8%. Hetal Mehta, economic adviser at Ernst & Young's ITEM Club, says the bleak figures mean a 1% fall in GDP would not be out of the question in the final quart...