UK economy falls into recession, adding to Sunak's election challenge

UK economy falls into recession, adding to Sunak
# 15 February 2024 20:18 (UTC +04:00)

Britain's economy fell into a recession in the second half of 2023, a tough backdrop ahead of this year's expected election for Prime Minister Rishi Sunak who has promised to boost growth, APA reports citing Reuters.

Gross domestic product (GDP) contracted by 0.3% in the three months to December, having shrunk by 0.1% between July and September, official data showed.

The fourth-quarter contraction was deeper than all economists' estimates in a Reuters poll, which had pointed to a 0.1% decline.