Economy shrinks by 0.1% following Rachel Reeves brutal Budget turmoil – what it means for YOUR money

THE economy slumped by 0.1% in October, in a blow for Rachel reeves after the Budget. The latest figures from the Office for National Statistics (ONS) reveal Gross Domestic Product (GDP) is estimated to have shrunk by 0.1% in October. This follows growth no growth in August and 0.4% in June 2025.