Newly released data shows that the UK economy contracted sooner than expected in the run-up to the Budget. According to the Office for National Statistics (ONS), national output fell by 0.1% in October, despite forecasts predicting a slight increase. The same rate of decline was recorded over the broader period from August to October. A cyber-attack on Jaguar Land Rover remained a major drag on manufacturing, as production only partly recovered after September’s shutdown. Analysts also believe that uncertainty surrounding the Budget caused both consumers and businesses to delay spending. Many economists think the Bank of England now has stronger grounds to cut interest rates at its upcoming meeting. Industrial production between August and October dropped 0.5%, driven mostly by a steep 17.7% reduction in vehicle manufacturing. The partial restart of activity at Jaguar Land Rover’s plants helped lift overall manufacturing output by 1.1% in October, but production remained far below levels recorded before September’s shutdown.