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 she was “disappointed” by the data after a weak month for pubs and restaurants dragged on growth amid some uncertainty ahead of the autumn Budget. The Office for National Statistics said gross domestic product contracted 0.1% in October. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00The numbers on GDP are disappointing but it's not possible to turn round more than a decade
00:06of poor economic growth and stagnant living standards in just a few months. But you'll
00:11see from the plans we've been announcing, whether that is the energy reforms we've published
00:16today, the reforms to build one and a half million homes that we published yesterday,
00:21the pensions reforms, the creation of a national wealth fund, this government are getting on
00:25with the job in improving economic growth and driving up living standards.
00:29Health is the number one mission of this government. Economic growth that results in
00:34families feeling better off with more money in their pockets and we're driving that economic
00:40growth and we hope that those numbers will start to improve because of the policies that
00:44we're pursuing in the months ahead.