UK house prices in steepest fall since February 2021; global inflation ‘may be nearing peak’ – as it happened

House prices dropped at fastest monthly rate since February 2021, as newer buyers risk falling into negative equity

• UK house prices fall after significant shock' of mini-budget

China has suffered its first contraction in international trade since May 2020, early in the pandemic, in a sign that the global economy is slowing.

Exports and imports unexpectedly contracted in October, as Chinese firms were hit by Covid-19 curbs at home and the global slowdown.

The weak export growth likely reflects both poor external demand as well as the supply disruptions due to Covid outbreaks.

I expect export growth to remain weak in the next few months as the global economy slows."