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
Image:

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...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Nest acquires 10% stake in IFM Investors

Nest acquires 10% stake in IFM Investors

Master trust will buy ownership stake in IFM’s holding company, Industry Super Holdings

Holly Roach
clock 05 February 2025 • 2 min read
UK Pensions Awards 2025: Call for judges

UK Pensions Awards 2025: Call for judges

Judges will get a ‘behind the scenes’ glimpse at how an industry-wide awards is run

Jonathan Stapleton
clock 05 February 2025 • 1 min read
News Digest: UK's pension wealth is being 'squandered', Phoenix boss warns

News Digest: UK's pension wealth is being 'squandered', Phoenix boss warns

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 05 February 2025 • 1 min read
Trustpilot