British GDP grew by a marginal 0.1 percent in the third quarter compared to the previous quarter, which was worse than expected. In September, the economy even shrank by 0.1 percent, according to Bloomberg.
The other day, unemployment statistics came in, which were also worse than expected.
In the background lurk the feared tax increases that the Labour government may be forced to implement, despite the election promise not to raise any taxes, while the government's public opinion figures are steadily declining. The budget will be presented on November 26.
The British Treasury is also struggling with high interest rates on the national debt.
On the plus side, the British central bank is now expected to lower interest rates going forward.
