Official Figures Confirm UK Economy Went Into Recession in Q4 2023
Thursday, 28 March 2024, 07:02
UK Economy Confirmed in Recession as GDP Decline in Q4 2023
Latest estimate from ONS says GDP declined by 0.3% in final quarter of 2023. Official figures have confirmed the UK economy went into recession at the end of last year, after the latest estimate found it had contracted in the last two quarters of 2023.
Recession Confirmed with 0.3% GDP Decline
- The Office for National Statistics (ONS) reported a 0.3% contraction in the UK economy in the last three months of 2023, unrevised from earlier estimates.
This news has significant implications for the UK economy, highlighting the urgent need for measures to address the ongoing economic challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.