Unexpected setback for British economy

The UK's GDP has decreased for two months in a row with the decline in October, according to ONS. The country's economy also contracted by 0.1 per cent in September.

The British pound fell after the statistics were released.

Analysts had on average expected a marginal GDP increase of 0.1 per cent in October, according to a compilation of forecasts made by Bloomberg.

The setback in October is explained, among other things, by decreased demand for services in the British economy, down by 0.6 per cent during the month. This includes a 2 per cent setback for pubs and restaurants.