Britain’s economy shrank more than expected last month, official figures show, in a sign that households and businesses are struggling with high interest rates. Gross domestic product (GDP) contracted by 0.3pc in October, according to the initial estimate by the Office for National Statistics. Economists had expected a contraction of 0.1pc. The weak start to the fourth quarter comes after the economy had flatlined in the three months to September. The data comes as the Bank of England prepares to hold its next meeting on interest rates on Thursday, where policymakers are expected to hold borrowing costs at 15-year highs of 5.25pc…
