UK economy shrank at the end of last year

The UK fell into recession during the final three months of last year, official figures show, after the economy shrank by more than expected. Gross domestic product – a key measure of economic activity – dropped by 0.3%. It follows a fall between July and September. The UK is considered to be in recession if GDP falls for two successive three-month periods.

It raises questions over whether Rishi Sunak has met his pledge to grow the economy.

It was one of five promises that the Prime Minister made in January 2023. However, it is not clear what measure the government will use to determine whether Mr Sunak has kept his pledge or not. For the whole of 2023, the economy grew by 0.1%.



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