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.
Category
🗞
NewsTranscript
00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.
00:06The UK economy unexpectedly contracted in October, marking two months in a row of negative
00:13growth for the first time since the pandemic. The Chancellor, Rachel Reeves, said she was
00:19disappointed by the data after a weak month for pubs and restaurants dragged on growth
00:25amid some uncertainty ahead of the budget. The Office for National Statistics had gross
00:31domestic product contracted by 0.1% in October. Most economists have been expecting GDP to
00:40rise by 0.1% during the month. My name is Greg Wright. I'm the Deputy Business Editor
00:47of the Yorkshire Post.