According to analysts, this was worse than market forecasts

The British economy shrank by 0.3% in October compared to September 2023, reversing the growth of the previous two months and being worse than market forecasts for an unchanged figure. 

This became known from the Office for National Statistics.

The service sector declined by 0.2% and made the largest contribution to the decline, led by information and communications (-1.7%), namely computer programming, consulting and related activities, as well as the production of film, video and television products. 

At the same time, output in consumer services fell by 0.1%. In addition, manufacturing dropped by 0.8% due to a widespread decline in the manufacturing industry (-1.1%), namely in the production of computers, electronic and optical products, machinery and equipment, while the construction industry declined by 0.5%, partly due to bad weather. Taking into account the three months to October, the British GDP has come to a standstill.