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The UK economy shrank in October and in the three months leading up to October, the Office for National Statistics reported on Friday. Gross domestic product is estimated to have fallen by 0.1% in October, the same as in September, and missing the FXStreet-cited market consensus for a 0.1% rise. Services output fell by 0.3%, while construction output fell by 0.6%. Production output, however, climbed 1.1%. In the three months ended October, real GDP also fell by 0.1%, flipping from growth of 0.1% in the quarter to September which itself slowed from 0.2% in the three months to August. Services output experienced no growth, while construction output declined 0.3% and production output fell 0.5%. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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