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  5. UK economy contracts in Q4, officially enters recession

UK economy contracts in Q4, officially enters recession

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The articles report that the United Kingdom's gross domestic product (GDP) decreased by 0.3% during the fourth quarter of 2023, following a 0.1% decline in the previous quarter. This marks the first time the British economy has experienced two consecutive quarters of contraction since the first half of 2020, when it shrank significantly due to the coronavirus pandemic. According to the Office for National Statistics, this meets the technical definition of a recession. City analysts had predicted a 0.1% decline in economic output for the final quarter of last year.

  1. FRLe Monde
    1. UK economy enters recession
  2. INThe Times of India
    1. UK fell into recession at the end of 2023 as output shrank more than expected in the fourth quarter
  3. GBThe Times
    1. Economy slides into recession in final quarter

Bank of England

  1. Bank of England cuts interest rate from 16-year high
  2. UK inflation falls to 2.3%
  3. UK economy emerges from recession with strongest growth in two years

sources

  1. 1.Le Monde
  2. 2.The Times of India
  3. 3.The Times

perspectives

  1. 1.Inflation
  2. 2.British Politics
  3. 3.UK under Rishi Sunak
  4. 4.Central Bank
  5. 5.British Economy
  6. 6.UK under Liz Truss

countries

  1. 1.United KingdomGB
  2. 2.JapanJP

organizations

  1. 1.Office for National Statistics
  2. 2.Bank of England
  3. 3.Labour Party
  4. 4.Conservative Party
  5. 5.Capital EconomicsGB

persons

  1. 1.Rishi SunakGB
  2. 2.Ruth Gregory
  3. 3.Jeremy Hunt
  4. 4.Rachel ReevesGB
UK economy contracts in Q4, officially enters recession