UK economy unexpectedly declines as services sector stalls

The Chancellor Rachel Reeves was visiting a market in Darwen on the morning it emerged the economy unexpectedly shrank in October (Peter Byrne/PA) - (PA Wire)

The UK economy unexpectedly contracted in October, marking two months in a row of negative growth for the first time since the pandemic, new figures show.

Chancellor Rachel Reeves said the data was “disappointing” as she said the Government was hoping to grow the economy with families “feeling better off with more money in their pockets”.