People spending less, doctors’ strikes and a fall in school attendance dragged the UK into recession at the end of last year, official figures show.
The economy shrunk by a larger than expected 0.3% between October and December, after it had already contracted between July and September.
The UK is in recession if it fails to grow for two successive quarters.
The UK is in recession if it fails to grow for two successive quarters.
The government has never publicly said what measure should be used to assess if it had met the Prime Minister’s pledge, despite repeated requests.
In some private briefings to journalists, sources said it would be if the economy was bigger between October and December compared to the previous three months.
But based on that measure, Mr Sunak’s promise has not been fulfilled because the UK economy shrank by 0.1% in July to September.
For the whole of 2023, the UK economy grew by 0.1%.
Nevertheless, excluding the Covid years, that annual growth figure is the weakest since 2009 when the UK and other major economies were reeling from the global financial crisis when bank lending almost ground to a halt.
People spending less, doctors’ strikes and a fall in school attendance dragged the UK into recession at the end of last year, official figures show.
The UK is in recession if it fails to grow for two successive quarters.
The economy shrunk by a larger than expected 0.3% between October and December, after it had already contracted between July and September.
The government has never publicly said what measure should be used to assess if it had met the Prime Minister’s pledge, despite repeated requests.
The UK is in recession if it fails to grow for two successive quarters.
The UK is in recession if it fails to grow for two successive quarters.
The government has never publicly said what measure should be used to assess if it had met the Prime Minister’s pledge, despite repeated requests.
In some private briefings to journalists, sources said it would be if the economy was bigger between October and December compared to the previous three months.
But based on that measure, Mr Sunak’s promise has not been fulfilled because the UK economy shrank by 0.1% in July to September.
For the whole of 2023, the UK economy grew by 0.1%.
Nevertheless, excluding the Covid years, that annual growth figure is the weakest since 2009 when the UK and other major economies were reeling from the global financial crisis when bank lending almost ground to a halt.
#economy #fell #recession #people #cut #spending
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