The UK economy has officially entered recession, figures show.
A recession is defined as two consecutive three-month periods where the economy contracts rather than grows.
A major measure of economic growth, gross domestic product (GDP) shrank 0.3% between October and December, the latest Office for National Statistics (ONS) data shows.
It’s a steeper fall than expected by economists who had forecast a 0.1% contraction.
It followed 0.1% of negative economic growth in the three months from July to September.
The data, however, is just an estimate and is subject to revision.
Source – https://news.sky.com/story/uk-economy-in-a-recession-13071973
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