The United Kingdom (UK) economy slipped into a recession at the end of 2023, after output contracted by more than expected in the final three months, according to official figures. The Office for National Statistics (ONS) estimated that gross domestic product (GDP) fell by 0.3 per cent in the fourth quarter, following a decline of 0.1 per cent in the previous three months. It meant that the economy entered a technical recession, as defined by two or more quarters in a row of falling GDP. It marked the first time…
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