UK economy shrinks again in October, official figures show | Money News

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The economy remained in a reverse gear during October, according to official figures covering the month ahead of the government’s first budget.

The Office for National Statistics (ONS) said output fell 0.1% following the 0.1% decline recorded for the previous month.

The data adds to the picture of a jittery economy during the second half of the year, in the wake of the general election.

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The ONS said there was zero growth in the powerhouse services sector, with manufacturing and construction declining at a pace of 0.6% and 0.4% respectively.

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