The UK's gross domestic product suffered a 0.3% contraction in October, compared with the 0.2% growth recorded in September and analysts' expectations of a recession, the Office for National Statistics reported on Wednesday. (ONS).
Compared to October last year, Europe's second-largest economy grew by 0.3%, much lower than the 1.3% expansion between September 2022 and September 2023.
In October, services declined by 0.2% monthly, affected by information and communications, after a double-digit growth in September, while production contracted by 0.8% in October, after a stagnation in September.
For its part, the construction sector declined 0.5% in October after growing 0.4% in September 2023.
This way, UK GDP between August and October will see no growth compared to the three months until July 2023.
In the third quarter, services activity grew 0.1%, production fell 0.7%, and construction fell 0.3%.
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