UK Economy Shrinks Unexpectedly in October
Update: 2025-12-12
Description
The UKs economy unexpectedly shrank in October, marking a zero point one percent contraction over the three months leading up to the end of October. This downturn was primarily due to a drop in manufacturing, with a significant impact from a cyber-attack on Jaguar Land Rover, and a standstill in the services sector. The government, aiming to boost economic growth, has been working on measures like reducing energy bills and investing in infrastructure projects. However, the opposition has criticized recent budget decisions, attributing the economic contraction to them. The Bank of England is now considering cutting interest rates due to the surprising economic contraction, with the economy only growing in one of the past seven months.
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