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UK economy unexpectedly shrunk before Budget
The U.K. economy unexpectedly contracted 0.1% in the three months to October, according to official figures released Friday. Economists had expected 0% growth over the period. It follows a 0.1% expansion over the three months to September. The Office for Statistics noted that services output stalled, construction output fell 0.3% and production output fell 0.5% “largely because of a fall in the manufacture of motor vehicles, trailers and semi-trailers in this period.” The figures come after the U.K.’s Chancellor Rachel Reeves unveiled a range of tax hikes in her hotly anticipated Budget last month, as she ... (full story)
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Dec 12, 2025 7:36am
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