UK Economy: Growth at Risk of Fourth Quarter Contraction

The UK economy contracted for the second consecutive month in October, with declines in manufacturing, construction, mining, and quarrying. Despite some offsetting growth in telecoms, logistics, and legal firms, the overall economic performance remains weak. The government emphasizes its commitment to economic growth, but economists are divided on the outlook. Some predict further contraction, while others foresee growth by 2025 due to looser fiscal policies. The Bank of England's stance remains uncertain, with potential influences from international events.

What factors contributed to the contraction of Britain's economy in October?

What is the government's response to the current economic situation?

What does the Treasury believe higher growth will lead to?

How do economists' outlooks for the economy differ according to the text?

What are the implications of the survey data mentioned in the text?