Urgent - Economic growth data in the UK has contracted for the second consecutive time.

The National Statistics Office in Britain released data on the country's GDP growth for October this morning, which was extremely negative and fell short of market expectations once again.

In this regard, the official data showed that the British economy recorded a contraction in real GDP during October; the economic growth rate stood at -0.1%, while markets had anticipated growth of about 0.1%. It is worth noting that the rate also recorded a contraction of 0.1% in September.

It is important to mention that this indicator measures the change in the inflation-adjusted value of all goods and services produced by the British economy, and this indicator is of great importance as it is considered the broadest measure of economic activity and the primary measure of economic health.

This coincided with a contraction in manufacturing output in Britain by 0.5% at the end of October, which was worse than market forecasts that had predicted a growth in manufacturing output of about 0.3%, after the index had risen by 0.5% in September.