An interest rate cut looks nailed on as Britain’s economy continues to splutter
GDP fell by much more than had been feared – and left the pound taking a tumble, writes James Moore
It didn’t take long for the pound to find itself in the doghouse after the latest GDP numbers landed. November was much worse than expected, something that’s becoming par for the course in Brexit Britain.
UK plc shrank by 0.3 per cent over the month. So more doom, gloom and disaster? Well, up to a point. The picture was a little more nuanced than the reaction of currency markets would have you believe.
While the 11th month was a miserable, the ninth and the 10th were, it turns out, better than had been feared. Both were revised upwards.