Rolling coverage of the latest economic and financial news, as the UK economy barely grows in October
- Breaking: UK economy only grew 0.1% in October
- Economy still below pre-pandemic levels
- Services boosted by GP visits, but production and construction shrank
- How will fresh Covid restrictions affect the UK economy and jobs?
- Coming up… US inflation could hit new 30-year high
- LV= members vote on Bain takeover
Here’s Keith Church, head of economic modelling at risk consultancy 4most, on the UK’s slowdown:
Alpesh Paleja, CBI Lead Economist, says October’s slowdown is disappointing:
“Growth disappointed in October, reinforcing concerns about the resilience of the UK’s economic recovery to the Omicron variant and the impact of further restrictions.
We need to create consistency in our approach and build confidence by reducing the oscillation between normal life and restrictions as we learn to live with the virus and its variants.
