UK economy in a recession | Business News

The UK has officially entered recession, official 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 data shows. It’s a steeper fall than expected by economists.

It followed a contraction of 0.1% in the three months from July to September.

The data, however, is just an estimate and is subject to revision.

Figures are routinely revised as more information becomes available.

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