UK economy shrinks 0.3% in October as third quarter growth remains flat

Economy weaker than forecast due to a decline in services

Elliot Gulliver-Needham
clock • 2 min read
The figures come in advance of the Bank of England’s Monetary Policy Committee meeting tomorro
Image:

The figures come in advance of the Bank of England’s Monetary Policy Committee meeting tomorro

UK GDP shrank 0.3% in October, driven by a 0.2% decline in services, leaving the third quarter with flat growth.

This decline has left GDP just 0.3% larger than it was in October 2022, the Office for National Statistics said today (13 December). Economists had anticipated there would be no change in GDP follo...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Pensions Commission, Governance for Growth Investor Campaign, and BPA market research

Holly Roach
clock 25 July 2025 • 1 min read
News Digest: The £70bn pension tax raid Reeves may not be able to resist

News Digest: The £70bn pension tax raid Reeves may not be able to resist

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 25 July 2025 • 1 min read
Data can be 'pension superpower' if done well, TPR says

Data can be 'pension superpower' if done well, TPR says

Regulator says accurate data ‘absolutely fundamental’ to success of dashboards

Holly Roach
clock 24 July 2025 • 2 min read
Trustpilot