What is behind the UK’s fall into recession and what does it mean?
The UK fell into recession at the end of 2023 after a bigger-than-forecast contraction in the final three months.
The data from the Office for National Statistics (ONS) estimated that gross domestic product (GDP) fell by 0.3% in the fourth quarter, following a decline of 0.1% in the previous three months.
It marks the first time the UK has entered recession since the first half of 2020, when the initial Covid-19 lockdown sent the economy
