"He didn't win, and we'll have to regroup."

William Haggas has revealed his stable star Economics has returned 'a bit battered and bruised' after suffering his first taste of defeat this season in the Qipco British Champion Stakes at Ascot on Saturday.

Sent off a 2/1 chance to make it back-to-back Group 1's following his hard-fought success over Auguste Rodin in the Irish Champion Stakes at Leopardstown, Economics looked to hold every chance approaching the two-furlong marker, but once asked for maximum effort by Marquand, he quickly back-peddled, eventually finishing sixth behind eventual shock winner Anmaat. The vet reported that Economics bled from the nose in his post-race report.

"I think he's fine, he's a bit battered and bruised but we all are," said Haggas speaking on Sky Sports Racing.

"I know it sounds bizarre, but I couldn't see him being beaten. I thought he wouldn't mind the ground, I thought he'd get the trip and gallop on well, so I can't make any excuses, but he didn't win, and we'll have to regroup.

"It didn't happen, he's still a good horse in our opinion, with all that went wrong on Saturday, he still wasn't beaten very far."

As expected, Economics is now set for a lengthy break.

Haggas added: "Hopefully with a good winter off, he'll be back next year to prove it,"

"I don't know what happened, we'll have to go to work on him and sort it out. We'll be taking every precaution."