UK GDP: economy shrank in run-up to election
by Richard Partington Economics correspondent from on (#4XTV4)
Pressure on Bank of England for interest rate cut increases after figures for November
The UK economy shrank in November after a fall in consumer spending and a downturn in manufacturing before the election, raising pressure on the Bank of England for an interest rate cut.
In a reflection of the political uncertainty hanging over families and businesses before last month's vote, the Office for National Statistics (ONS) said gross domestic product (GDP) had fallen by 0.3% in November from the previous month.
Related: Pound slides as UK economy shrinks in November - business live
Continue reading...