Accountancy sector booms despite shock 0.1% GDP figure

Since the Budget GDP has dropped twice in as row marking the risk of recession for Reeves after her first five months as Chancellor, but accountancy firms buck the trend

For the month of October GDP fell by 0.1%, mostly due to a decline in production and construction output. This followed September’s decline of 0.1%. The figure was worse than predicted by economists.

Worse still growth over the last quarter was only 0.1%, compared with 0.7% in the first three months of the year.

The output of the production sector fell by 0.6%, marking a drop of 1.1% over the last two months. The manufacturing and mining sectors were the biggest contributors to this downturn.

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