The British economy is shrinking. Figures just released by the Office for National Statistics (ONS) show that GDP fell by 0.1 per cent in the three months to October. The contraction came after growth of 0.1 per cent in the three months to September. On a monthly basis the economy shrank by 0.1 per cent in both September and October after remaining flat in August. Most economists had expected Britain’s economy to grow.

The slow-down was driven by production, which shrank 0.5 per cent, as well as construction, which shrank by 0.3 per cent. Meanwhile, services remained........

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