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The 0.3% fall in Q4 was fuelled by decreases in all three main sectors: 0.2% in services, 1% in production and 1.3% in construction output, the ONS said.
The UK economy shrunk by 0.3% in the last three months of 2023, placing it in a technical recession, according to data from the Office for National Statistics (ONS) published today (15 February).
A technical recession happens when gross domestic product (GDP) contracts for two consecutive quarters, as GDP fell 0.1% in the third quarter of last year. However, the ONS noted that, despite t...
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