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 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.