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

Join Business Live because the financial system remained in reverse gear throughout October, in accordance with official figures protecting 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 because the COVID pandemic that the financial system had shrunk for 2 consecutive months. The figures confirmed zero progress within the powerhouse providers sector, with manufacturing and building declining at a tempo of 0.6% and 0.4% respectively.

Economists had anticipated a constructive headline determine

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