The monthly GDP data that was published yesterday showed that the economy bounced back to grow at 0.5% following a 0.6% contraction in September.

Despite the positive data, the economy is still facing a recession that will probably start in the current quarter.

The country faces a significant weakening of its economy this month due to the freezing weather that is engulfing the country, as well as strikes by workers from numerous sectors. Nurses, firemen, ambulance crews, and train drivers are among those who will walk off the job during this month and early next. The Government has drafted in the army to drive ambulances during the strike, while fleets of taxis will ferry people to and from hospital,

Rishi Sunak and his ministers are standing firm as the pressure mounts on them to cave in and accede to the demands of the unions.

The Chancellor of the Exchequer, Jeremy Hunt has said that the size of the claims are unaffordable and if the Government were to agree pay deals in excess of the rate that inflation is rising currently, it would simply add fuel to the fire and start and wages/prices spiral that would be extremely difficult to break.

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