Warnings against optimism as economy grows 0.5% in October

Concerns 'figures flatter to deceive' the true economic damage

Eve Maddock-Jones
clock • 2 min read

The UK economy is estimated to have grown 0.5% in October, according to data from the Office for National Statistics.

This was a reversion of the 0.6% fall seen in September, a month which was impacted by the additional bank holiday for the Queen's funeral. Looking at the three-month window, gross domestic product (GDP) fell by 0.3% in the three months to October 2022 compared with the three months to July 2022. October's growth was slightly stronger than economists had forecast, having put it at just 0.4%. The main sector contributors were the services sector, which grew by 0.6% after falling by 0.8% in September, the largest driver coming from wholesale and retail trade. The construction sect...

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