uk economy shrinks, Analysis: Reeves faces recession fears but shrinking industry could offer a bigger problem
The UK economy contracted once again in October, prompting economists to issue warnings of a potential recession—a setback for Chancellor Rachel Reeves' efforts to boost productivity.
However, the latest figures reveal a deeper, long-term issue.
According to the Office for National Statistics (ONS), economic output dropped by 0.1 percent in October, mirroring the 0.1 percent decline seen in September. This raises concerns of a quarterly contraction if growth fails to rebound.
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