UK GDP: Fall in Spending of Customers

EconomyNewsPolitics

The UK economy shrank in November just after a fall in spending of customers and a downfall in manufacturing before the elections. This has resulted into the pressure on the bank of England for the cut in interest rates. There is a political uncertainly that hangs over the families as well as the business before the voting that took place in the last month.

The Office for National Statistics (ONS) said that GDP has fallen down by 0.3% in the November month from the last month. Most of the major sectors other than construction have reported a drop in the output and service industry is affected the most.

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