The UK economy contracted by 0.3% in October, according to figures released by the Office for National Statistics this morning
The fall was biggest than expected and has been put down to high interest rates
Services output fell by 0.2% in October 2023, driven by a fall in information and communication, and was the main contributor to the fall in growth in GDP; this follows growth of 0.2% in September 2023.
Production output fell by 0.8% in October 2023, driven by widespread declines in manufacturing, after showing no growth in September 2023.
The construction sector fell by 0.5% in October 2023 after growth of 0.4% in September 2023.
