With the economy still contending with the drags from high interest rates, higher taxes and weak overseas demand, the surprise 0.1% m/m contraction in the economy in October (consensus forecast +0.1%, Capital Economics forecast +0.2%) is unlikely to be entirely the result of the one-off drags from the Jaguar Land Rover cyber-attack and Budget uncertainty. This lends further support to our view that the Bank of England will cut interest rates next Thursday.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services