UK economy contracts 0.3% in Q3 due to high inflation: ONS

UK's economy contracted a little more than expected in the third quarter, Office for National Statistics's revised data showed. Gross domestic product shrank 0.3% in the July-September period compared with an original reading of minus 0.2%. "Revised figures show the economy performed slightly less well over the last year...with manufacturing and electricity generation notably weaker", ONS said.