GDP data: UK economy unexpectedly declines as services sector stalls

Yorkshire Post 2024-12-13

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The UK economy unexpectedly contracted in October, marking two months in a row of negative growth for the first time since the pandemic, new figures show. Chancellor Rachel Reeves said she was “disappointed” by the data after a weak month for pubs and restaurants dragged on growth amid some uncertainty ahead of the autumn Budget. The Office for National Statistics (ONS) said gross domestic product (GDP) contracted 0.1% in October.

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