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The U.K. system unexpectedly contracted successful the 3 months to October, according to authoritative figures released Friday.
It follows a 0.1% enlargement implicit the 3 months to September. Economists had expected 0% maturation implicit the period.
The Office for Statistics noted that services output stalled, operation output fell 0.3% and accumulation output fell 0.5% "largely due to the fact that of a autumn successful the manufacture of centrifugal vehicles, trailers and semi-trailers successful this period."
"October's GDP underscores conscionable however overmuch trouble the U.K. system is going done arsenic the authorities searches for immoderate benignant of growth," Lindsay James, concern strategist astatine Quilter wealthiness absorption company, said successful a note.
"This fig besides misses what were already debased expectations and doesn't bode good for adjacent month's fig either."
Looking up to the cardinal bank's complaint determination adjacent week, James added that Friday's figures made it "increasingly apt the Bank of England volition person to little rates adjacent week erstwhile it meets, but with ostentation remaining persistently high, the gait astatine which consequent cuts tin beryllium delivered remains questionable."
This is simply a breaking communicative and volition beryllium updated shortly.
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