UK economy shrinks 0.3% in October as third quarter growth remains flat

Economy weaker than forecast due to a decline in services

Elliot Gulliver-Needham
clock • 2 min read
The figures come in advance of the Bank of England’s Monetary Policy Committee meeting tomorro
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The figures come in advance of the Bank of England’s Monetary Policy Committee meeting tomorro

UK GDP shrank 0.3% in October, driven by a 0.2% decline in services, leaving the third quarter with flat growth.

This decline has left GDP just 0.3% larger than it was in October 2022, the Office for National Statistics said today (13 December). Economists had anticipated there would be no change in GDP follo...

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