UK economic growth slows sharply in October

The GDP figure was lower than expected and the ONS highlighted a fall in construction due to higher costs and supply chain issues. Production and construction output were both down in the month at 0.6% and 1.8% lower respectively. Services output overall has returned to pre-pandemic levels aside from consumer-facing services which are still significantly below, 5.2% lower than February 2020. Restaurants also saw a substantial decline after a strong summer, with a 7.5% decline in food and beverage services activities in the month. The main contributor to growth in the month was h...