Preliminary estimates from the UK’s Office for National Statistics show that the UK’s gross domestic product (GDP) unexpectedly fell by 0.1% in October, matching the September figure, while forecasts had predicted growth of 0.1%. This means the UK economy contracted by 0.1% in the three months to October, compared to growth of 0.1% in the three months to September.

The services sector, which accounts for more than 70% of the UK economy, fell by 0.3% in October and remained stagnant in the three months to October. The construction sector also declined, by 0.6% in October, and by 0.3% in the three months to October. Meanwhile, manufacturing output grew by 1.1% in October, but fell by 0.5% in the three months to October.