UK economy shrinks for second month in a row

The UK economy shrunk for the second month in a row in October after official figures showed a 0.1% drop.

The economy had been expected to return to growth following a fall during September.

However, the Office for National Statistics said that activity had stalled or declined, with pubs, restaurants and retail among sectors reporting “weak months”.

Chancellor Rachel Reeves said the figure was “disappointing”, but added: “We have put in place policies to deliver long term economic growth.”