UK Economy Shrinks Unexpectedly: October Contraction Fuels Recession Fears and Rate Cut Bets
The UK economy shrinks by 0.1% in October, official data has revealed. This unexpected contraction defies economists’ predictions of growth, marking a concerning development for the UK’s financial health as the UK economy shrinks. September also saw a 0.1% contraction, and August experienced no growth, further emphasizing the current economic downturn. The persistence of this…