UK economy almost flat-lined in October, adding to rate hike doubts

Published by
Reuters

By William Schomberg and Andy Bruce LONDON (Reuters) -Britain’s economy barely grew in October, even before the emergence of the Omicron coronavirus variant, further denting expectations that the Bank of England will raise interest rates next week for the first time since the pandemic struck. Gross domestic product edged up by a weaker than expected 0.1%, slowing sharply from monthly growth of 0.6% in September. That meant the economy remained 0.5% smaller than in February 2020, just before Britain went into its first COVID-19 lockdown, the Office for National Statistics said on Friday. “We’ve…

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