Speculation around Chancellor Rachel Reeves’ Autumn Budget has been blamed for a surprise drop in UK GDP, down 0.1% in the three months to October, according to data from the Office for National Statistics (ONS).
Economists had expected GDP to grow 0.1% during October, following a fall of 0.1% in September and no growth in August. However, the ONS said monthly GDP in October is estimated to have contracted by 0.1%. According to the ONS, GDP fell by 0.1% in the three months to October, following growth of 0.1% in the three months to September and 0.2% in the three months to August. Over the three months to October, production output experienced the biggest fall, dropping by 0.5% because of a decrease in the manufacture of motor vehicles, trailers and semi-trailers. Construction output fell b...
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