Despite the monthly growth in the gross domestic product during October, the UK economy is likely to stagnate or shrink in the final quarter of this year, the National Institute of Economic and Social Research, or NIESR, said Monday. ONS data showed earlier on Monday that GDP grew 0.5 percent monthly in October, which was largely attributable to the weakness in September resulting from the additional bank holiday for the state funeral of HM Queen Elizabeth II.
There was a strong pick-up in wholesale and retail trade, and repair of motor vehicles and motorcycles, which were apparently strongly affected by the additional bank holiday.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.