U.K. Finance Minister Jeremy Hunt will deliver his Autumn Statement on Thursday.
, and the Office for National Statistics confirmed on Friday that GDP contracted by 0.2% in the third quarter of 2022.
"To maintain credibility with investors, in our view, the government will focus on the size of fiscal tightening. However, the composition and timing of fiscal tightening will matter too," said Barclays Chief European Economist Silvia Ardagna. "Additional pressure on the U.K.'s fiscal position has been created by the deteriorating growth profile, rapid rise in interest rates, and higher cost of servicing inflation-linked debt."
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