UK economy grows 0.5% in October but 'figures flatter to deceive' the true economic damage

Exceeds expectations

The UK economy is estimated to have grown 0.5% in October, according to data from the Office for National Statistics.

This was a reversion of the 0.6% fall seen in September, a month which was impacted by the additional bank holiday for the Queen's funeral. Looking at the three-month window, GDP fell by 0.3% in the three months to October 2022 compared with the three months to July 2022. Government to repeal EU PRIIPs regulation on retail fund disclosures October's growth was slightly stronger than economists had forecast, having put it at just 0.4%. The main sector contributors were the services sector, which grew by 0.6% after falling by 0.8% in September, the largest driver coming from whole...