UK slipped into recession at end of 2023 – official figures

The ONS estimated that gross domestic product fell by 0.3pc in the fourth quarter, following a decline of 0.1pc in the previous three months

It marks the first time the UK has entered recession since the first half of 2020 (PA)

Holly Williams

Britain’s 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 0.3pc in the fourth quarter, following a decline of 0.1pc in the previous three months.