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The UK economy shrank by more than expected in October, according to figures from the Office for National Statistics on Wednesday.
Gross domestic product fell by 0.3% in October from September, having risen by 0.2% in September from August.
This was worse than expected. According to FXStreet market consensus, analysts were expecting GDP to fall by just 0.1% in October.
In the three months to October, the UK economy was flat compared to the immediately previous period, though 0.7% larger compared to a year before.
Services output fell by 0.2% month-on-month in October, having risen by 0.2% in September. Construction output fell by 0.5% after a 0.2% rise in September from August.
In other data released on Wednesday, the UK’s trade deficit widened to £4.48 billion from £1.57 billion a month earlier.
The Bank of England will take centre stage later Thursday, announcing its latest interest rate decision.
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