Blow for Sunak as revised figures confirm UK went into recession last year
by Phillip Inman from Economics | The Guardian on (#6KNYJ)
Latest estimate from ONS says GDP declined by 0.3% in final quarter of 2023
Why recession may be deeper than headline GDP falls suggest
Official figures have confirmed that the UK economy went into recession at the end of last year, after the latest estimate found it contracted in the last two quarters of 2023.
In a blow to the government's economic standing, the Office for National Statistics (ONS) said the economy, as measured by gross domestic product, shrank by 0.3% in the last three months of the year, unrevised from an earlier estimate.
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