Business Live: What does a shock drop in GDP imply for the financial system and can it drive a fee lower?

Join Business Live because the financial system remained in reverse gear throughout October, in keeping with official figures overlaying the month forward of the federal government’s first finances.

The Office for National Statistics (ONS) stated output fell 0.1% following the 0.1% decline recorded for the earlier month.

It marked the primary time for the reason that COVID pandemic that the financial system had shrunk for 2 consecutive months. The figures confirmed zero development within the powerhouse providers sector, with manufacturing and development declining at a tempo of 0.6% and 0.4% respectively.

Economists had anticipated a optimistic headline determine

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