UK economy shrank by more than expected in October
Business / Wed 13th Dec 2023 at 08:16am
THE UK economy shrank by more than expected in October, as higher interest rates squeezed consumers and bad weather swept the country reports the BBC.
The economy fell by 0.3% on the month, after growth of 0.2% in September.
Household spending has been dented by rate rises as the Bank of England tries to tackle inflation. It is due to make its next rate decision on Thursday.
Click below for more details.
Doubtless we will soon see some Tory trying to claim this as a success.
13 years, 80 seat majority, we have the highest taxes outside war time, inflation caused by printing 400B for a cold. Brexit bungled, and then we have the government giving everyone a rise via the rise in minimum wage. What do they expect, but then again Robert and Chris V (the probably next MP for Harlow) have never run a business or created one so they have no idea what the true cost of their diktats are. It is going to get much worse in 2024 and 2025, because the fundamentals of the world economy are in taters, with to much debt, to many expecting to much from a struggling state.